Surplus countries can resist adjustment by restricting capital flows and exchange rate movements, but deficit countries are forced to adjust when they run out of international reserves or lose access to external borrowing.
I am thrilled to see so many distinguished speakers and participants, all prepared to contribute with their insightful experience and expertise. In my opinion, this seminar is of paramount importance in the midst of our efforts to discuss alternative solutions to avoid a repeat of the current economic and global financial crises.