Trade statistics that have been released since the last meeting indicate that the surplus on the current account of the balance of payments in the second quarter of 2000 could have changed to a deficit in the third quarter. At the same time non-residents again became net sellers of South African bonds, signalling a possible shortfall on the financial account.
Building on a Foundation of Collaboration Dear friends, there is much work already done and so much more that we can do together in the future. I am grateful for our long-standing partnership and shared commitment, which has helped the Philippine banking system be what it is as today: a pillar of strength for the Philippine economy.