The Government has to be conscious not to crowd out the private sector, which will implement vey large infrastructure and development projects in the next four years, during which the LNG project is constructed. In 2010, we have allowed for broad money to grow by 21%, which we consider sufficient to meet the borrowing needs of the private sector to support economic growth.
On the external front, our policies will be geared toward: (1) ensuring sustainability of the country’s external debt; (2) maintaining an essentially market-determined exchange rate with scope for occasional official action to smoothen sharp movements in the rate; (3) maintaining a comfortable level of reserves; and (4) further improving the foreign exchange environment through FX deregulation.