Economic policy coordination and surveillance will surely play a crucial role in making further headway towards price stability, fiscal prudence and stable exchange rates. I am sure that price stability should be regarded as the primary objective of monetary policy in transition countries, too. However, while steering a clear course towards disinflation, explicit targets of monetary policy should be chosen carefully.
I am pleased to be joining you today and to be speaking to so many microfinance experts. Before starting I would like to commend the conference organisers for putting together such a comprehensive programme on this important topic. Microfinance is becoming ever more relevant, and there can therefore be no doubt that we need to keep it on our agendas.