On the external front, our policies will be geared toward: (1) ensuring sustainability of the country’s external debt, (2) maintaining a market-determined exchange rate, with scope for occasional official action in cases of sharp movements in the peso, and (3) maintaining a comfortable level of reserves as market opportunities will allow.
Reforms in the financial sector will be aimed at maintaining a strong banking system and a vibrant capital market, with the support of other government agencies and the private sector. This should help spur credit and investments, and contribute in providing the basis for a more sustainable economic activity in the medium term.