In recent years, given the low price elasticity of energy demand and supply, this resulted in an equally extraordinary rise in energy prices and the steady increase in the trade surplus of oil-producing countries (Figure 1). This was an additional factor of global payments disequilibria and a source of finance for final demand in the United States.
It is clear, these microentrepreneurs are on the road to attaining a certain level of financial independence. BIS central bankers’ speeches  1  We also continue to implement programs to provide more Filipinos access to financial services that would empower people to improve their lives.