BIS Review 6/1998  -2-  Moreover, the policy conditionality, associated principally with IMF lending, which dictates economic and financial discipline and structural change, helps to mitigate some of the moral hazard concerns. Such conditionality is also critical to the success of the overall stabilization effort.
The reason for organising such conferences and their direct purpose is not only to share insights, hold interesting discussions, but also formulate or at least contribute to the formulation of constructive proposals on economic policy. This is what I also expect from today’s meeting on income inequality. Yes, I admit – the expectation is ambitious.