But there is no universal prescription: each central bank must weigh the local risks that inflation will persist against the threat of deflation from overhanging debt and fragile Banks.

但是没有通用的处方：每个央行必须权衡自己当地的风险，与未偿债务和脆弱的银行引发的衰退相比通货膨胀将是持续的。

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However, Huang believes there are significant risks associated with local government debt.

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Among the other domestic risks, the fund said that Beijing needs to keep the local government debt in check, which has been a cause of concern for many analysts.

BBC: IMF: Worsening eurozone crisis a 'key risk' to China