difficult to put food on their tables. the environment has made achieving our vision a daunting task and the reserve bank has not been challenged with such intensity before as our problems seem to be compounding more in recent times. i believe that despite these challenges, the reserve bank has been able to manage these challenges over the years and more recently as well. i believe that the reserve bank has the leadership and capacity to overcome these challenges by working with the government and all stakeholders – including us all here today – to ensure better policy coherence and coordination to safeguard our country ’ s future. let us all take “ the next step together ” and “ lead fiji to economic success ”. it has been said that it is relatively easy to lead when things are plain sailing and that leaders are challenged most when things are tough. there is also a popular saying “ when the going gets tough, the leaders get going ”. when the situation gets tough and in a quest to be more competitive and survive, leaders will need to think “ outside of the box ” and move “ out of our comfort zones ”. major adjustments and paradigm shifts are required. creative thinking and in some cases unpopular policy decisions need to be implemented to address economic and financial challenges. it is however logical that change will be opposed and difficult to accept initially. there is a high premium on being level - headed, keeping emotions and feelings under control and being an optimist. i believe that a vibrant energy for “ hard work ” and taking tough decisions, being consistent and following through on these are some traits of a good leader leading in turbulent times. an effective leader is always optimistic “ even when the going gets tough ”, never a pessimist. an effective leader sees opportunities where others only see problems and continuously raises the bar for excellence in an organisation. an effective leader believes in his or her people and their potential and capabilities and imposes challenges beyond their limits to harness their creativity and talents. leaders not only need to be knowledgeable, they now need to inspire and lead a very knowledgeable and highly qualified team. general george s patton once said “ never tell people how to do things. tell them what to do and they will surprise you with their ingenuity. ” conclusion let me conclude and leave you with a few challenging thoughts in line with the theme of today ’ s convention “ people – key to economic success ”. 1. how can the institute contribute to capacity building and leadership for our nation? 2. how can

the institute prevent the “ brain drain ” – of our professionally trained staff leaving fiji for greener pastures abroad? 3. how can the institute raise the bar for productivity and fulfil the expectations and aspirations of the people of fiji – and contribute to leading fiji to economic success? 4. how can the institute ensure the recognition and importance of human resources management in organisations in fiji? 5. how can the institute encourage human resources as a career of choice for students? i anticipate that these five challenges will pave the way for discussions over the 2 days and will assist with the institute ’ s future plans and activities. i wish you well in your deliberations. thank you.