We have also made much progress in broadening available alternatives for overseas Filipinos in sending remittances to their beneficiaries. Greater competition has led to lower remittance cost, better accessibility, quicker delivery, and generally better services that facilitates the inflow of remittances into the economy. We also continue to register gains in our economic and financial education program for the general public.
So in my introductory remarks, I will highlight some of the key risks, give our assessment of resilience and explain our policy actions. And after those remarks, my team and I will be happy to answer questions.