 I'm Richard Cooper from Harvard University. I'm going to talk about the world economy in this session. 10 days ago, there was the annual meeting of the World Bank and the IMF. And on such an occasion, the IMF comes out with its world economic outlet. Over the past 10 years, the IMF has typically been too optimistic in assessing the near-term, next two years, outlook. And regularly, they've had to revise downward their estimates. So this past 10 days was noteworthy. For one of the very few times, they revised upward their forecasts. And there's a general sense of buoyancy about the world economy at the present time. And at the same time, however, the IMF comes out with a second less publicized report called Global Stability. And there, they said, things look fine in the short run, but all of the not all, most of the risks in the medium to long run are on the downside. That particular report got less attention, but they point out a number of indicators, particularly rising debt around the world. So we have here a marvelous panel, well-experienced. I'm not going to go through them. You have their names and bios in your book. And I'm just going to follow the order on our program. I've asked each speaker to talk just for eight minutes. And I hope that leaves some time for questions and before we have to yield our time. So I'll just turn it over right away. We'll go right down the order. Start with Uri Dadoosh.