In today’s situation again, the health of non-financial and financial sector balance sheets is at the centre of attention as a possible constraint on borrowing and lending as well as agents’ capacity to spend. Looking at the flow-of-funds in conjunction with the international investment positions light can also be shed on the international dimension of the crisis.
But you are entitled to approach requests for exemption with a certain degree of skepticism – after all the best tonic for export growth and for the promotion of access to the economy is, in most cases, likely to be competition itself rather than exemptions from the competitive process. I wish you well. Thank you. BIS Review 30/2001  5