To illustrate my point, let me outline briefly the kind of challenges central banks face. To begin with, financial stability is not easily measured. This is hardly surprising as, in contrast to monetary policy analysis, there is no single indicator (such as inflation) to observe. Similarly, initiatives to create some sort of an all-encompassing financial stability index have failed to convince so far.
May I thank the Minister for Finance and Treasury, Honourable Patrick Pruaitch for accepting our invitation to officiate on this important occasion. The Bank of Papua New Guinea has timed the release of the new polymer K5 and K10 banknotes to coincide with the Kina and Toea Day, which is on the 19th of April 2008.