Monetary policy, of course, did not produce the intellectual insights behind the technological advances that have been responsible for the recent phenomenal reshaping of our economic landscape. It has, however, been instrumental, we trust, in establishing a stable financial and economic environment with low inflation that is conducive to the investments that have exploited these innovative technologies.
There are now three types of saving and loan societies: employer-based societies such as Teachers and Elcom; provincial-based societies like the East New Britain Savings and Loan society; and superannuation-based societies for their members.