Speeches & Media Interactions

PDF - Central Banks must distill Lessons from the Global Crisis and make Concrete Reforms ()
Date : Jul 02, 2010
Central Banks must distill Lessons from the Global Crisis and make Concrete Reforms
(writes Dr. Duvvuri Subbarao, Governor, Reserve Bank of India in an Article in Finance and Development [F&D] a publication of IMF)

Central banks have been at the heart of the global financial crisis. They have been blamed for policies and actions that got the world into the crisis; they have been praised for leading the world out of it. Both are fair assessments. Central banks have been a part of the problem and a part of the solution.

As the crisis unwinds and recovery takes hold, central banks face a number of issues, of which I will address five.

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