invested heavily in its human resources over the last few years. we have built capacity in policymaking and other technical areas directly related to central banking such as economic modeling, bank regulation, financial stability, risk management etc. the bank will continue to build capacity in these areas. however, we now need to complement our growing technical knowledge to make the bank more effective by providing training opportunities in leadership, team - building, management skills and talent management among others. there will also be study visits to other central banks with respect to cash management, currency handling, security and maintenance of the building, an area which i consider important now that we are housed in an intelligent building. we expect to boost up our financial literacy programme in 2010 as good policymaking requires that economic agents understand well the why ’ s and the how ’ s of the bank ’ s policies. we also propose to launch an educational programme on the need to “ save for a better future ”, aimed at disseminating knowledge on financial products and helping households to better manage their income. platinum commemorative coin i am proud that last year, the bank joined the exclusive league of central banks which have issued a platinum coin. we went one step further. we inaugurated a series of three platinum coins – one was issued last year and the other two will be launched this year and in 2011. the coin pays a fitting tribute to sir seewoosagur ramgoolam, our first prime minister, and subsequently governor - general, and fondly remembered by one and all as the “ father of the nation ”. this platinum series has enhanced the bank ’ s collection of commemorative and special coins, which is now more visible and accessible to collectors and the public in general through greater promotion on our part. overall assessment of the year 2009 these are some of the highlights of our activities at the bank in the past year. i must admit that the year gone by was also marked by some avoidable events which we would prefer to forget. there were some distractions and turbulences which we weathered by fastening our seatbelts and remaining resolutely focused on our priorities. unfortunately, we made local headlines for reasons which were not directly related to the core functions of the bank, that is maintaining price stability and promoting orderly and balanced economic development. it saddened me terribly that the steep decline in inflation, our well - calibrated monetary policy stance, our prudent and judicious management of our foreign exchange reserves, and our exchange rate framework so

harvesh seegolam : celebrating the 55th anniversary of the bank of mauritius - adapting to our future address by mr harvesh seegolam, governor of the bank of mauritius, at the governors'meet, le morne, 8 september 2022. * * * a very good morning to all of you. it is with immense pleasure that i welcome you today to mark the 55th anniversary of the bank of mauritius. we have come a long way since the bank was officially opened on the 1st of september 1967. i feel privileged to continue the tremendous work that my predecessors have accomplished for this apex institution which has always been at the forefront of our economic trajectory. to commemorate its 55th anniversary, the bank launched the emerald jubilee bond on 18 july 2022. i am pleased to share with you that, as of yesterday, a total amount of rs6 billion has been invested by individuals. this is indeed a success beyond our expectations. ladies and gentlemen i will now highlight a few achievements of the bank of mauritius. you will all agree with me, that the world is a changed place since 2004 and we need to gear up to ensure that we continue to stay ahead of all disruptions and revolutions the central banking world is facing. in this light, updating our legal framework is key to adapting to evolution. we have already progressed significantly on our proposed new bank of mauritius bill. engagements are under way with the imf for their views also. we intend to submit a final draft to government for consideration in october. ladies and gentlemen the hallmark in the evolution of the bank of mauritius has been its institutional strength. during the five and a half decades of its existence, the bank has regularly come up with well - crafted policies. in difficult situations during the post - independence history of mauritius, these policies have fostered macroeconomic stability. more recently, since 2020, with the onset of the pandemic, we all as central bankers were faced with completely unprecedented situations and shocks which halted our entire day to day. problems and issues lying on our tables were of a magnitude and complexity we had not seen in living memory. central banks had to be bold in their actions and decisions, while maintaining independence as monetary authorities. being independent gives central banks autonomy for policy making to sustain macroeconomic 1 / 4 bis - central bankers'speeches stability, and to attain this very objective they had to look in the same direction as their governments to salvage the economy during the pandemic. we had to safeguard