In recent months, our financial institutions have shared in the economic adjustment through the domestic debt restructuring. At the same time, implementation of the new IFRS 9 accounting standard has also adversely impacted the profitability and capital of banks and insurance companies. However, the financial system remains stable and adequately capitalized.
At the same time, along with lending to SMEs, the financing of infrastructure displays distinct challenges that deserve outmost attention, notably the role and needs of institutional investors and the regulatory framework for long-term investment.