The foreign exchange liberalization reforms that we implemented amidst the pandemic highlight our confidence on the resilience of our external payments position. They also showcase our efforts to promote greater ease in the use of FX resources of the banking system, and to further promote an environment conducive to businesses. This opinion is shared by relevant third-party observers.
Fostering competition in product markets should also have a positive effect on price developments.6  Effective reforms means comprehensive reforms Finishing the discussion about the right domestic policies in a monetary union and beyond, I would like to stress the need for a comprehensive approach to structural and fiscal reforms as opposed to piecemeal measures.