Moving forward, we are optimistic that positive growth will be sustained this year, that the balance of payments will continue to yield a healthy surplus, and that our banking system will remain solid through the turbulence. Still, we need to be vigilant in guarding the economy against the spillover effects of the global crisis.
However, in the case of the GSEs and other large regulated financial institutions with significant roles in market functioning, liquidity and operation risks also need to be considered.