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The so-called Outright Monetary Transfers programme - never used - would have allowed the central bank to step in and buy up the debt of troubled countries in potentially unlimited quantities.
December 2015, Mangochi, Malawi - Born 37 years ago, Patuma Deula from Chapola Village, Traditional Authority Chimwala in Mangochi, is one of the beneficiaries of the Social Cash Transfers Programme also known as Mtukula Pakhomo.
Most of this income, which is linked to the quality of life of older people in rural South Africa, is from non-contributory government cash transfers or grants; therefore rapid increases in the proportion of older people poses serious challenges to their well-being by threatening the sustainability of the cash transfers programme.
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But by doing so it has taken the momentum out of the transfer programme.
In the end, we implemented the largest NGO cash transfer programme in history.
Higher school enrolment has been an unexpected side effect of the cash transfer programme.
A targeted cash-transfer programme, which makes welfare payments conditional on recipients' actions, may work better.
This makes it "the most important income transfer programme in the world", says Lula.
Mr Fox established Mexico's biggest cash-transfer programme to the extreme poor.
His government turned Bolsa Família from a small-scale experiment into the world's biggest conditional cash-transfer programme.
Known in development jargon as a "conditional cash transfer" programme, it was modelled partly on a similar scheme in Mexico.
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