For example, in some low-income developing countries, the capital flow may be restricted to official flows, Foreign Direct Investment and trade related flows. The immediate benefits of liberalisation in terms of private flows are, therefore, not evident.
Let me clearly state at the outset that I support the reform proposed by the Bachar Committee. That is what I said a month and a half ago here when I first addressed you as Governor, and again last week to the participants in the Caesarea conference. When I say that I support the Bachar Committee reforms I mean the following: 1.