BIS central bankers’ speeches  3  accounted for by EMEs will adhere to an upward trend in coming years, with the OECD reaching similar conclusions for a much longer forecast horizon. 6 It is therefore evident that as the center of gravity of the world economy continues to move towards EMEs, a corresponding adjustment of global economic governance will inevitably take place.
Finally, as with any other significant disruption in our history, it is my fervent hope that this crisis will usher in a new economy—one that is more robust, more inclusive, more technologicallysavvy. As soon as this pandemic fades, I expect that the Philippines to become nothing less than an economic champion. Thank you very much and cheers to a promising and bright 2021!