And having agreed, the stakeholders must collaborate on working on such changes in ways and forms as may be required by circumstances, for the greater good. Ladies and gentlemen. We have seen how successful cooperation between the BSP and the banking sector generated long-term benefits for our country and our people.
There is no way of putting aside the government’s budget constraint permanently. As I spoke about in a talk last month, it is certainly possible for a central bank to use monetary financing to affect when and how government spending is paid for.