To date much discussion has, understandably, been focussed on the impacts on government finances. As important as they are, participants in private financial markets should also take an interest. Financial arrangements will be able to adapt to the needs of an ageing population, I expect, but they will adapt more smoothly if we have some realistic discussion of the issues.
I have set a time frame with commercial Bank’s to set up microfinance centres in each of their branches by January 2010. We are also playing our part in micro finance at the Reserve Bank.