I will couch the discussion in the context of two current macro-economic challenges: •  The current economic slowdown  •  The Clico/CIB crisis  Over the last few years, we have achieved rapid economic growth. However, as you know, the Central Bank has had to face the specter of unacceptably high inflation.
Since 2008, the international economy has been in the grip of an unprecedented financial crisis which has led to a pronounced global recession. Initially, like most developing and emerging market countries, the region faced only limited contagion from the international turmoil.