Against this background, I would like to highlight the progress made in the Single Financial Market. Some initiatives were started before the crisis and are still in progress. Others have been launched since the outbreak of the crisis. I would like to briefly mention just some of these important developments.
These are: strong import growth, reflecting a rise in dollar demand given expansion in private and government sectors, and expected U.S. Federal Reserve rate hikes due to their policy normalization. These factors notwithstanding, we expect the country’s robust growth, stable inflation environment, strong and resilient banking system, and prudent fiscal position to provide underlying support to the peso.