As Prepared for Delivery
Distinguished Ladies and Gentlemen:
"I am delighted to participate in this High-Level Regional Seminar on Inflation Targeting co-organized by Bank Al Maghreb and the IMF. Let me begin by thanking the Moroccan authorities for hosting this important conference here in Rabat.

"I would like to give a special welcome to our guests from Algeria, Egypt, Jordan, Lebanon, Libya, Mauritania, and Tunisia, whose presence here confirms the importance of inflation targeting to our membership in this region of the world. My thanks also to our eminent speakers from Brazil, the Czech Republic, Mexico, and the Bank for International Settlements, who have kindly agreed to share their experiences and views on adopting and implementing inflation targeting with the other participants.