We have undertaken significant macroeconomic, fiscal, banking and financial sector reforms which make the economy more resilient to domestic and global uncertainties. We are mindful though that there are risks to this outlook. Thus, even as our assessments show that the risks are manageable and moderating, we continue to monitor these carefully.
At a recent roundtable on the LIBOR transition held by the Financial Stability Board, we heard calls from the private sector to provide greater clarity on regulatory and tax implications of the transition and also calls for a more “muscular” regulatory approach. It is incumbent on the official sector to take these requests seriously, and we are.