In order to face the current and future challenges proactively, and to address the already identified deficiencies in the existing processes, the Central Bank, as outlined in its latest Strategic Plan for the medium term, expects to robustly strengthen its institutional frameworks by:  7  a) enhancing the monetary policy framework; b) strengthening the financial sector oversight; c) modernising payment and settlements; and, d) upgrading public debt management. The improved policy frameworks will enable the country to take advantage of greater integration, while mitigating the risks involved and increasing the resilience of the economy. In this respect, as already mentioned, we are steadily progressing towards an effective FIT framework to ensure price stability. At the same time, we are striving to promote a dynamic and resilient financial sector in order to lower vulnerabilities in the financial system. This is a priority for achieving objectives in relation to growth, employment and incomes. Modernising the infrastructure of the payments and settlements system to pave the path towards a less cash society and facilitating a digital economy are also important policy priorities in the medium term. We are also determined to strive for prudent debt management with a view to ensure debt sustainability, enhance effectiveness and transparency of the primary auction system, promote market development and minimise risks. Our policies are aligned to achieve these strategic priorities which will be instrumental in supporting the country’s economic and price stability and financial system stability.

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