At the time of the Gulf War, there was a surge in crude oil prices and a plunge in stock prices when Iraq invaded Kuwait, but, with the outbreak of the war, expectations spread for an early ending and the markets turned around.
Your letter of invitation proposed a wide range for our discussion today, and I will not attempt to be comprehensive in my brief opening statement. Perhaps the best way of ordering my introductory comments is by reference to the Central Bank’s three year Strategic Plan which we published in November.