Introduction Timothy Adams Ladies and gentlemen It’s a great pleasure for me to welcome you to this conference, which is a joint event of the Institute of International Finance (IIF) and the German G20 presidency.
​ While headline inflation averaged 4.5 percent in 2021, there was a noted slowdown in price increases toward the end of the year. ​ Inflation returned to within-target range in December at 3.6 percent.​ This was aligned with the BSP’s projections that inflation will ease toward the midpoint of the target range of 2 to 4 percent this year and in 2023.