presidents – senators andres zaldivar, hernan larrain, sergio romero and eduardo frei ruiz tagle – and with presidents of the finance commission alejandro foxley, carlos ominami and camilo escalona. our relationship was always cordial and with strict observance of the provisions set forth in our constitutional organic legislation. today we must all feel proud of the place that the central bank of chile now occupies in the international scene. several measurements rank us today among the best evaluated institutions among central banks around the world in various aspects of our day - to - day operation. this is the fruit of a serious and very patient work that requires dedication and effort. i have also the satisfaction of having helped to complete the process of entry of the central bank of chile as a member of the bis ( the bank for international settlements ), and of having led a campaign to have smaller countries and those admitted in september 2003 participate in its bimonthly meetings on the global economy. this campaign succeeded thanks to the support of jean claude trichet, cristian noyer, tim geithner and especially jean - pierre roth. as a result of this campaign, aside from chile, countries like norway, denmark, greece, finland, israel and new zealand were able to also integrate the discussion on the global economy. those meetings gather central bank governors of the main economies of the world, and are a great opportunity to be updated on the evolution of the global economy and strengthen the networks for interaction across central bankers. internationally, i must also mention the great recognition that has the work of our central bank in other central banks and in international forums. dear board members, executives and all the staff : i want to tell you all that i am deeply grateful for having had the opportunity to serve my country from this position. it has been a true privilege, especially for the opportunity that provided me to strengthen this institution and in this way to contribute to build the great reputation that this institution has today in the country and elsewhere. traveling abroad as the governor of the central bank is a great satisfaction because of the way our country is seen and respected. i have been the recipient of frequent praise for our country and for this central bank, which is the merit of each and every one of you. i have been lucky to have also had the unconditional support of my family, who has had to endure the heavy burden that this responsibility has placed on our lives. it is true that i would have liked to

end my term with an inflation rate within the target range. sadly, some circumstances beyond our control have made it impossible. but i am certain that this is a temporary phenomena and that the central bank is very well prepared to comply with its price stability objective. on my part, i leave with the satisfaction of having contributed to the strengthening of this institution, so transcendental for the development and the welfare of the chileans, to make it more credible, robust and efficient, but also more human, to earn prestige for our country and at the same time make it a great place to work in. here we have people of the top level, individuals with a long trajectory and also with promising future. i ask you now to continue strengthening this institution to raise it to ever higher positions. i am grateful for all the support that the board has given me throughout my period as governor ; i thank every manager, head of department and all the staff, from the highest to the lowest rank, for your patience, but above all, for the appreciation and affection you have shown me, especially in these last days. i take with me beautiful memories of all these years, which, i assure you, i will never forget. thank you.