In this regard, besides potential adverse impact on economic growth profile and estimates for 2021, I have to acknowledge the challenging effect of COVID-19 on work arrangements, where given the status of the Bank as a key national institution and an essential services provider, mainly currency and related security operations as well as domestic and international payments, we had to readjust resource deployment to ensure business continuity and uninterrupted service to the nation, while attending to staff welfare and strict observance of the disease containment protocols.
As my colleagues will indicate in their presentations, the Bank also made the requisite policy adjustments, that is, monetary and exchange rate policy, financial sector policies and injection of liquidity into the banking system, including working with the banking industry to be fully aligned on the measures designed to address the national economic challenges occasioned by the COVID19 pandemic.