As is stressed in the Document, it is necessary to lengthen the time horizon of public action. Reducing the public debt and, I add, ensuring the sustainability of the pension system must constitute the State’s first investment in favour of the country’s young people and future generations. Figures and Tables Figure 1. Primary surplus and temporary effects  Figure 2.
The Seychelles Monetary Authority, the precursor to the Central Bank of Seychelles, was established a mere two years after Seychelles gained its independence. This was the ultimate act that validated us as a sovereign state, with the ability to issue currency, manage our reserves, inspect banks and financial institutions and perhaps most importantly, set our own monetary policy objectives.