Ladies and gentlemen. As you have noticed, while we hold this event for the banking community, we do invite representatives from other sectors. This is in recognition of the important role the banking industry and these sectors play in moving our economy forward.
There is reasonable consensus that none of these measures is undesirable in itself. There is also broad agreement on the sequencing of these measures. That the first line of defence against risks of capital flows are prudent macroeconomic policies and a strong institutional base. External borrowing should be controlled until corporate governance and supervisory standards are robust. 4  9.