This impacts on timeframe and our estimated completion date is 2024. The Solvency Standard is an example. It will need to be revised for IFRS 17 by end-2021, and is expected to be further revised to align with the IPSA changes by 2024.
This is because current developments in inflation in our domestic economy is being driven primarily by policy related factors. This is a time where global attention on international trade has increased, with talks of a trade war between the US and China at the forefront. Being a highly import dependent country, we need to be aware and keep on top of these developments.