Regional financial cooperation should move progressively forward, with the process being further strengthened and should work toward becoming more focused on this important area. The Regional Stabilization Fund was conceptualized as a short-term financing facility to assist member countries in managing their balance of payments shortfalls at a time of financial distress.
But first I want to spend a few moments discussing some interesting facets of the impact of change on the technologies used by American households to consume financial services. The process by which technological change becomes embedded in production and consumption has long absorbed the attention of economists.