That is why, at the beginning of 2007, in close consultation with the Secretary to the Ministry of Finance, the Monetary Board developed a comprehensive monitoring mechanism of key macroeconomic variables in the external, fiscal and monetary sectors. These are based on a financial programming framework to ensure that key macroeconomic targets are met as announced, both in the Budget and our Road Map. We will continue to monitor these key macro economic variables and take appropriate policy measures if and when there are any deviations from the predetermined targets. We are therefore confident that we will be able to keep our economy and development agenda on track and make rapid progress. It is also our hope that our development partners will understand our strategies and efforts towards achieving macroeconomic stability and growth and we look forward to their close support in our endeavours. Finally, I would like to leave a simple message with all of you, our Development partners. The outlook for Sri Lanka is bright. We are optimistic about our country. Join us in our endeavours. Now is the time. 2  BIS Review 11/2007
In July this year, the Committee met in joint session with this working group in Krakow, Poland to discuss, among other things, Basel II implementation issues. In addition, the AIG has encouraged non-G10 supervisory participation in working groups that are addressing issues related to validation and operational risk. The AIG has also engaged in encouraging work with non-G10 supervisors to consider principles for information sharing among home and host supervisors. I believe that this dialogue will, over time, foster greater consistency among Committee and non-Committee members. The Committee is therefore committed to heightening this dialogue and will consider further ways to promote consistency. Thank you very much, and I look forward to your questions and comments. 3/3