I thank the officers and members of the American Chamber of Commerce of the Philippines (AMCHAM) for the invitation to speak today. My message has two parts. First, I will give an update on the economy and its prospects over the medium term.
⇒  It is anticipated that a global financial safety net would contribute to warding off potential crises pre-emptively and restricting the spread of those that do occur by supplementing the foreign exchange reserve holdings of individual countries.