In this context, strengthening of the macroeconomic foundations in the Turkish economy and the gradually increasing financial integration with the world economy facilitates the sustainability of higher current account deficits. Floating rate regime and a strong financial system also alleviates the negative consequences of the current account deficit during a possible capital outflow. The current account deficit is one of the risk factors for our economy today as it was in the past. Management of this risk like the other risks besides its control through medium and long-term structural measures considering its structural peculiarities are vital for the establishment of a permanent stability in the economy. Finally, I would like to express my pleasure one more time for having this opportunity to communicate my views about the policies of the Bank and the macroeconomic developments. Thank you. 8  BIS Review 28/2007
Caleb M Fundanga: Bank of Zambia retirees Talking notes by Dr Caleb M Fundanga, Governor of the Bank of Zambia, at the luncheon in honour of Bank of Zambia retirees, Bank of Zambia, Lusaka, 12 December 2006. *  *  *  • Deputy Governor – Administration • Directors • Ladies and Gentlemen • Retirees and Potential Retirees in our midst Some people say “retirement is wonderful; it is described by many as doing nothing without worrying about getting caught at it”. That is to say, you now become accountable to yourself for your actions! Retirement marks an important milestone in one’s life, it is so important that in many cases you have to consult, and reflect extensively before you take that very important decision. It is a day one should not only anticipate during ones working life, but also plan for. Retirement can occur voluntarily as the case is with VESS, by attaining the age of 55 as provided by statute or prematurely due to a misfortune such as failing health. In all circumstances one must plan for the event. Ladies and Gentlemen, it is for this reason that the Bank has found it befitting to host a luncheon in your honor, by recognizing all the hard work that you have put in the Bank in the many years of service. Admittedly, relationships between the Bank and ex-members of staff have in certain cases not been so good.