Ladies and gentlemen We made it clear at the onset that the adjustment we have taken will have a price that we all, Malawians have to pay in order to have a long lasting solution. Waiting any longer would have been worse. At the Bank we do not envisage a reversal on the position that we have taken.
I will start by saying that the Philippine Constitution required the central bank to be an independent central bank. Of course, it took three or four years to pass a law after the Constitution was written to put that law down more precisely.