The Bank for International Settlements (BIS) released a paper analyzing the performance of emerging markets economies (EMEs) in the context of the monetary policy tightening experienced in advanced economies. The main conclusion is that based on historical antecedents, the exceptionally sharp tightening of monetary policy in the post-pandemic inflationary surge could have been expected to lead to significant stress and dislocation on EMEs, however this group of countries have shown economic resilience due to structural changes, including improvements in monetary and fiscal policy and in prudential regulation and supervision.
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