Many countries have been able to satisfy an increasing share of their financing needs from domestic sources, partly because foreign investors have become more active in the domestic debt markets. Moreover, a few countries have successfully placed local currency issues in the international markets.
*  *  *  It is my pleasure to be invited to deliver this keynote speech in this 2nd International Forum on Microfinance sponsored by INAFI Philippines. I welcome this opportunity to share with you the progress that we have achieved thus far in promoting microfinance in the banking sector.