sessions. but it is not enough that we discuss and become wise for ourselves. i urge everyone to turn these discussions into actions that would lead to public policy for sustainable development goals of our country, just as our conference theme reflects. let us use our wisdom to help not just ourselves but others as well. after this conference, i look forward to being with everyone at the alumni homecoming this evening. but i will not keep you any longer. i hope for everyone to have fruitful discussions and meaningful exchanges at this conference. once again, thank you very much and i wish you all a productive day ahead. 1 / 1 bis central bankers'speeches

path, i am confident we can look to sunny skies but that is not to say that it will always be sunny for i see patches of clouds nearby. i see potential financial disturbances from the yet unfolding subprime mortgage problem in the us, the now - growing consensus for a deeper - than - first - expected slowdown in the us, as well as the elevated and more volatile oil and commodity prices. these risks, although essentially out of our control, are real and could threaten our outlook. we therefore need to build on what we have so far achieved. we will continue to sharpen our tools for implementing sound monetary policy. we will also continue to reinforce sound structural reforms in the banking system to ensure its overall safety and efficiency as well as its adaptability and inclusiveness, as evidenced by our substantial strides in propagating sustainable microfinance in increasingly innovative forms. moreover, with the infrastructure and instruments of the domestic capital market now mostly in place, our challenge is to make the capital market a truly potent alternative source of funding and investments for domestic industry. we are already seeing growing evidence of this. and in support of the financial reform agenda, we will continue to cooperate with institutions concerned on the passage of key legislations such as the amendment of the bsp charter, the pera bill, and the cisa. i believe we all agree that the creation of a comprehensive and reliable credit information system is key to unlocking credit flows at more affordable rates that will benefit the micro, small and medium enterprises that dominate our economy and employ most of our people. one crucial challenge that we face, and for which i earnestly request your support, is to help ensure that we improve the economy ’ s absorptive capacity – either through improving access to credit, by providing better risk management products and tools that would allow for project financing to flourish and, ladies and gentlemen by actually extending credit! this is the way, i believe, that the problem of plenty, which you have time and again heard me say, would no longer be a problem of plenty, but be a pot of plenty for the many. indeed, our responsibility to the community extends beyond ensuring that the macroeconomy is stable, and that the banking community is sound. in this context, we believe that part of our role is to enhance financial literacy and education as well. hence, we have partners and collaborators beyond the circle of banks and financial institutions. our financial education program targets our key stakeholders, including overseas