Secondly, will the remaining exchange controls be removed to provide a further stimulus to the development of the South African financial markets? Here again, the answer must be in the positive. The removal of exchange controls is a one-way process that should not be reversed, not even when international capital flows go against the country, as happened in the past year.
*  *  *  Ladies and gentlemen of the Foreign Correspondents Association of the Philippines, special guests, good morning. Thank you for inviting me again to speak before you today. The last time I was here in February, I discussed with you the challenges that the Philippine economy would be facing this year.