In practice, however, detecting the accumulation of financial imbalances is not an easy task. In searching for early warning indicators for financial crises, vigorous research has been done globally at various institutions such as the IMF and BIS as well as central banks, including us.
A key outcome at this workshop was the commitment by all the participants to a common vision of “…reaching at least 150,000 unbanked citizens through a coordinated national effort by the year 2014”. It is extremely encouraging to note that we are on track towards achieving these goals, perhaps even earlier than targeted.