By borrowing from banks to finance current expenditure, we actually use up tomorrow’s income today. The situation also emphasises once again that the South African total production machinery must become more competitive.
Manuel Sánchez: An economic outlook and policy update on Mexico Remarks by Mr Manuel Sánchez, Deputy Governor of the Bank of Mexico, at the United States-Mexico Chamber of Commerce, New York City, 26 September 2014. *  *  *  I am honored by the invitation to be here again in the vibrant city of New York.