Furthermore, even though the lower oil price provides a boost to consumers, lower prices for our key export commodities such as coal, iron ore and platinum mean that South Africa loses out on valuable export earnings. Because the prices of both imported oil and exported commodities have fallen, the net positive effect for South Africa is still positive, but minimal.
In closing, I am certain that, as is usually the case, we will have a productive and successful three days of discussion and debate. Special thanks to the teams from the Central Bank of Barbados and the CERT Secretariat for organising what appears to be an excellent conference programme. For those of you are visiting, do enjoy our hospitality and culture. Thank you. 3