Open trade has expanded the supply potential of several economies. Moreover, for a country undergoing structural transformation with large unemployment/under employment of resources, the concept of potential growth becomes even more fuzzy. For instance, the Economist (February 3, 2007) observes: "India is undergoing a paradigm shift and so backward-looking historical data are now irrelevant for assessing future growth".
*  *  *  On behalf of the Board and staff of the Bank, I welcome you, Sir, Your Excellency The President and all invited guests, first, to the Bank’s impressive premises; second, and more fittingly, to this event, the proceedings of which will culminate in the official launch of the new family of Botswana coin.