From now on, there will be need to be a more nuanced relationship between public and private sectors to sustain growth, and regional sources of growth will become more diversified. These are two of the conclusions of MIGA's discussion panel on the post crisis outlook held on October 4 in Istanbul.
A panel of international experts, including the Colombian Minister of Finance Mr. Oscar Ivan Zuluage, MIGA's Executive Vice-President Izumi Kobayashi, and Nick Rouse, Managing Director of Frontier Markets Fund Managers, agreed on some aspects of the vision going forward, but had differing views on others.
Taking on a more proactive, energetic role, public authorities worldwide have played a large role in limiting the downside of last year's financial crisis, they agreed. In Eastern Europe and Central Asia, the International Financial Institutions Initiative (in which MIGA participated) to support recapitalization of these countries' banks drew mention as one example of this type of successful multilateral intervention.