I view the fact that ICBS 2002 is being held in South Africa, the first time outside of the developed countries, as a symbolic indication that emerging market countries are recognised as willing and able to throw their weight behind the achievement a robust global financial system.
We have been involved in best practice setting processes for a long time, paying specific attention to the special circumstances in emerging countries. Efforts in our region to harmonise regulatory and supervisory practices are well known, and the annual meeting of the Eastern and Southern African grouping of bank supervisors (ESAF) yesterday in this venue has surely advanced that cause further.