The growth rate of 11% in domestic demand during the first quarter of 2007 was too high. Had we let demand continue to grow at high rates, it would have meant not only excess inflation, but a worsening-quality and more risky investment, as well as an unsustainable current account deficit.
Let me also assure you that my colleagues and I at Banco de la República and in other areas of the government are very much aware that for growth to bring lasting benefits, it must be sustainable. We have public support for this goal.