I would like to thank Vice Chairman Rodney Hood and the National Credit Union Administration for the invitation to speak at the 2007 Risk Mitigation Summit. Given the continuing challenges in risk management facing banks and credit unions, this event is certainly topical.
The implementation of the above fiscal actions should also alleviate concerns deriving from the increase in the current account deficit. Even though part of the needed adjustment has taken place through depreciation of the real exchange rate, macroeconomic policy support is required to ensure an orderly performance of the economy.