Our gross international reserves, which stood at $ billion as of end-November 2021, continue to provide ample cushion against unforeseen demand for foreign exchange liquidity. This is equivalent to 10.2 months’ worth of imports of goods and payments of services and primary income. It is also about six to nine times the country’s short-term external debt, based on residual and original maturity, respectively.
And when consumers and producers understand financial issues, they are less vulnerable to fraudulent practices and scams. As they grow in their understanding of financial products, whose variety and complexity have grown in leaps and bounds, they will be able to prepare and chart their financial future based on their preferences for risks and rewards.