Meanwhile, our external position remains healthy, with a balance of payments surplus, and Gross International Reserves reaching record levels of roughly $ billion in June 2010.
In particular, the data you share with us – through the Cross Border Transactions Survey, Foreign Direct Investment Survey, and Coordinated Portfolio Investments Survey – allowed us to derive sound baseline estimates critical in enhancing compilation of our external accounts and in calibrating well-anchored balance of payments projections. These projections are vital in estimating forecasts for inflation and in crafting our monetary policy formulation.