One of the major constraints in the operation of the Bank when it was established way back in 1967 was insufficient office space. The offices of the Bank were located at various places in Port Louis.
In the 1990s, US households “chose” to reap the anticipated and real (“beyond the hype”) – but partly illusory – benefits of the productivity acceleration related to the New Economy, and incorporated in overblown equity values, in advance, in the form of current consumption; after 2000, they did the same with the rise in housing wealth, and financed their demand through a large increase in indebtedness (Figure 2).