for training of a local chef in malaysia. more recently, the reserve bank rationalised its $ 40 million import substitution and export finance facility to make it easier for eligible businesses to access. exporters and agricultural entities that engage in businesses which will bring down our imports can tap this facility at concessional rates of interest. importantly, we continue to partner with financial institutions to ensure that they provide an efficient and effective facilitative role in the development of the economy. i note the enormous progress made towards the development of microfinance in fiji. it is encouraging to see the active participation from banks and stakeholders from the private and public sectors as well as nongovernment organizations in the various microfinance expositions held so far. these expos are an opportunity for the public to learn about self employment and rural financial services available through microfinance. the training sessions offered by banks during the expo events have greatly facilitated this learning curve. the rbf firmly believes that the extension of microfinance and the promotion of greater financial inclusion can contribute to greater economic activities in rural areas and address poverty alleviation. i urge all stakeholders to continue their efforts towards supporting the development of microfinance in fiji. the national financial inclusion taskforce ( nfit ), which was established in november last year and is tasked with guiding and monitoring the development towards greater financial inclusion in fiji, is making good progress. the three working groups under the taskforce are continuing diligently to develop and implement national strategies to improve financial literacy and statistics, and develop microfinance. some recent work by the taskforce have included following up on a review by the ministry of education on how best to incorporate financial education into both primary and secondary school curriculum. the taskforce has also endorsed a consultancy review on a household financial competency baseline study in fiji. i am very pleased that the commercial banks and other financial institutions are playing a very active role in the nfit and its various working groups. looking ahead, the nfit will continue to work with the government and donor agencies to innovate and encourage the use of new technologies, such as telecommunications and mobile money to expand the reach of financial services. in this respect, the reserve bank, in partnership with the two mobile companies in fiji recently launched its e - money fiji project, the first of its kind in the pacific region, as a new way of providing financial services using mobile phone technology and network. it is very pleasing to note the positive up

united states, which are especially important to cyclical economic activity, mexico ’ s potential long - term economic growth has substantial upside if the nation continues to fortify its fundamentals, which include healthy fiscal finances, low inflation, and a liquid and well - capitalized banking system. its upside potential will also be greater if it promotes pending structural reforms fostering productivity growth and investment. concluding remarks the increasing economic integration of mexico with the united states during the last three decades has benefited both countries significantly. advantages to mexico include greater product specialization and efficiency, and for both nations, a wider variety of goods and services at lower prices. being next to the largest and most diversified economy in the world is a strong advantage for mexico which should not be underestimated. recently, international financial instability has affected mexico mainly through substantial currency depreciation, similar to that experienced by other emerging market currencies, and, to a lesser extent, through slightly higher interest rates. meanwhile, the mexican economy has continued a recovery process which has included more moderate growth in the industrial sector, mainly reflecting slower exports to the united states. mexico ’ s economic outlook remains dependent on the strength of the u. s. economy, but long - term upside potential can be realized if mexico ’ s fundamentals are strengthened, and pending structural reforms approved. finally, monetary policy will continue to be consistent with preserving the convergence of inflation to the permanent 3 percent target. bis central bankers ’ speeches