In explaining the collapse in fish and finance, lack of diversity seems to be a common denominator. I am sure that during the workshop, you will be discussing the various ways in which the costs and benefits of projects can be realistically assessed by incorporating the monetary value of the risks or threats to biodiversity or ecosystem services.
Last year, we saw some capital flow reversals. But despite an overall balance of payments deficit, our year ended with a very manageable external position. In 2017, we also saw the peso’s depreciation. Even as foreign direct investments flowed in, a reversal of foreign portfolio investment flows as well as loan prepayments was felt in the financial account.