As new challenges keep coming up, the “extraordinary” seems set to become the “new normal”. During most of 2010, the Bank of Mauritius Tower continued to battle strong headwinds and stormy waves, struggled to keep the country’s financial and monetary affairs in order, and contributed its share to the national effort to keep the economy on an even keel.
While the concept cannot be easily captured in a single word, a few attributes need to be demonstrated for a given system to be described as financially stable. These include: public confidence and trust in the institutional framework – owing to sound design of the infrastructure; predictability; efficiency; sound ethical behavior by market participants and competence of financial authorities, among others.