The key to controlling risks lies with the implementation of the programme, which has to be flawless. The upcoming elections will be very important. It is essential that the new government supports the programme, just as the old one has. Since everything depends on the implementation of the programme, monitoring is very important. And that is being taken care of.
  On the monetary front, the recent unfolding inflationary pressures have been proactively responded to using a package of instruments, which include;      2  i)  Pursuing a tight monetary policy stance to regulate money supply;  ii)  Tactical interventions into the foreign exchange market to manage and minimize sudden fluctuations in the exchange rate;  On the regulatory front, the following have been applied to ensure soundness and stability of the financial sector: i)  Conducting regular on-site examinations and off-site surveillance of supervised financial institutions in order to initiate prompt corrective actions as warranted;  ii)  Enhancing risk management framework in all supervised financial institutions;  iii)  Implementation of risk-based supervision to foster timely identification, measurement, monitoring and controls of risks inherent in the financial sector;  iv)  Periodic reviews of the legal and regulatory framework to ensure update with current developments in the financial sector;  v)  Aligning the regulatory framework with international standards especially after the recent global financial crisis;  vi)  To facilitate innovation through amendment of the legal and regulatory framework to permit the following: i)  Implement mobile money banking;  ii)  Bancassurance;  iii)  Islamic Banking & Finance products.