These countries are being exhorted to adopt exchange rate regimes at the ends of the spectrum - either a pure free floating rate, or a strongly fixed rate (preferably with institutional backing in the form of a currency union or even dollarisation).
*** Partners from the banking community and business community, colleagues, friends in the media, ladies, and gentlemen, magandang araw po sa inyong lahat. I am pleased to welcome everyone to the Regional Macroeconomic Conference Series (RMCS) for South Luzon. This marks our fourth RMCS, building on the conference series in Central Visayas, Davao and SOCCKSARGEN, and most recently, North and Central Luzon.