At this stage, the optimism generated by impressive macroeconomic performance and the modest success in implementing financial sector reforms has intensified pressures for significantly accelerating the pace of external financial liberalisation. It is essential to take into account the risks associated with it while resetting an accelerated pace of a gradualist approach.
Of course, the special responsibilities of the Board of Directors of a financial institution which I mentioned earlier means that the CBB will need to continue to apply its own corporate governance requirements on such matters as internal high level controls, the avoidance of conflicts of interest, and various public disclosure and reporting requirements.