The ability of Mauritius and other small states to elude the immediate impact of the crisis can be put down to two broad factors; first: avoiding the worst aspects of global credit delinquency through appropriate banking regulation and supervision; second: stability and probity in accounting and banking methods, recognising risks for what they are, and reducing exposure to potential losses, rather than grabbing gold-plated opportunities for making a fast buck.
In 2007, we launched a new strategy for communication which culminated in the End-of-Year Letter to Stakeholders. The essential idea here is to share with you the experiences of the Bank of Mauritius, the highs and lows of the year, and also to bring to you the outlines of our future policy. This year, we continue with this tradition.