Durmuş Yılmaz: Evaluation of global financial developments and structrual reforms Speech by Mr Durmuş Yılmaz, Governor of the Central Bank of the Republic of Turkey, at the 19th Annual World Business Congress, Konya, Central Anatolia, 21 July 2010. *  *  *  Honorable Rector, Esteemed Academicians, Distinguished Guests, We are gathered here today for the 19th Annual World Business Congress of the International Management Development Association (IMDA), where the lessons learned from past experiences in the global business world, current issues and future tendencies will be discussed. I would like to congratulate everyone, notably Prof. Dr. Mehmet Babaoğlu, Rector of Karatay University, and distinguished members of the University for their Contributions to organizing this esteemed Congress, which is held in a different country each year. I would like to start my speech with a brief evaluation of global financial developments. Then I will address structural reforms, which we deem essential for raising Turkey’s potential growth rate, when considering the Turkish economy on a macro scale and from in a longterm perspective. 1. Global developments:  As is known, problems, which emerged in the global financial markets about two years ago and spread across the corporate sector over time, affected the Turkish economy as well as other economies. We see that the impact of global turmoil on economies mainly emerged through three channels: (1) Foreign Trade, (2) Capital Flows and (3) Expectations. The Turkish economy has been affected by global turmoil through all these three channels due to its structural features.

Caleb M Fundanga: Foreign private investment in Zambia Opening remarks by Dr Caleb M Fundanga, Governor of the Bank of Zambia, at the Closing and Dissemination Workshop on Foreign Private Investment and Investor Perception Survey, Lusaka, 4 June 2009. *  *  *  The Chairman; Distinguished Invited Guests and Participants; Members of the Press ; Ladies and Gentlemen Mr. Chairman, It is my honour and privilege to officiate at this very important Closing and Dissemination workshop of Phase II of the survey on Foreign Private Investment and Investor Perception. As I welcome you all, I wish to convey my appreciation for your contribution to the success of the project. May I, in this regard, express our special appreciation to the private sector colleagues for their cooperation as respondents. Ladies and Gentlemen, Let me take this opportunity to extend my sincere gratitude to the Private Sector Development (PSD) Programme, for providing financial support for this very important project. Further, our thanks go to the COMESA Secretariat, United Nations Conference for Trade and Development (UNCTAD), Macroeconomic and Financial Management Institute (MEFMI), Development Finance International (DFI) and international consultants for providing financial and technical support to this survey. With their financial and technical support, the Government, through the Balance of Payments Committee, comprising representatives from the Ministry of Commerce, Trade and Industry, Ministry of Tourism and Natural Resources, Zambia Development Agency, Central Statistical Office and Bank of Zambia, was able to undertake this very important survey.