I thank you for your contribution and assistance towards the Malta Community Chest Fund, that is there to fulfil all those hopes and assist in situations where other NGOs cannot help.
Since its founding in 1968, the Central Bank of Malta has played a great role in strengthening Malta’s development and the establishment of our country within the wider sphere of the European financial sector.
This visit comes at a time when the people and the government are reflecting on the nation’s economic achievements over recent years, our resilience in facing difficult periods, and economic transformations driven by ongoing changes coming from various quarters; many of them also resulting from global economic and political fluctuations.
The Central Bank has a crucial role in assuring Malta’s financial stability and economic growth.
The primary role of this institution remains safeguarding stability. As Malta’s independent monetary authority and a trusted member of the Eurosystem, the Central Bank of Malta is entrusted with the responsibility of maintaining financial stability and price stability — pillars on which our national prosperity depends.
The diligent implementation of Eurozone monetary policy, careful management of Malta’s reserves, and vigilant oversight of our payment systems are essential basics to sustain the credibility of the Maltese economy and to foster trust in the overall economic and investment climate of our islands.
I note how in recent months, your warnings on excessive government borrowing and the importance of respecting European fiscal thresholds have been measured, precise, and aimed at nurturing this climate of sustained and sustainable trust for the future.
It is encouraging to see the Central Bank’s index of economic and political uncertainty decline in the first quarter of 2025.
This is a very positive development, signifying a renewed sense of confidence in Malta’s economic prospects. However, as your guidance highlights, external risks – including ongoing global conflicts and fluctuations in international markets – remain a pressing concern; also domestic fiscal prudence remains a top priority.
Beyond operational excellence, the Central Bank has consistently demonstrated its responsibility to the public by providing clear and evidence-based fiscal guidance.
A second, equally important aspect is your leadership in digital transformation.
The Central Bank has positioned itself as a catalyst for modernization, whether through instant payments, readiness to enhance digital euro, as well as investment in innovative financial technologies.
A well-structured payment and settlement system promotes the efficient use of resources and contributes to the integration of financial markets.
This commitment is not only about efficiency but also about creating an inclusive and resilient financial ecosystem for every citizen.
Such initiatives empower households, strengthen resilience, and prepare Malta’s society for the future of finance.
Robust governance frameworks, anchored in Maltese law, aligned with ECB standards, and underpinned by independent oversight, constitute the foundation of the Bank’s credibility.
In recent years, our nation has engaged in comprehensive discussions regarding the significance of transparency, accountability, and ethical stewardship—not only within the financial sector but across the broader spectrum of public life.
Malta’s Central Bank has handled these discussions with strength and professionalism.
Your dedication to upholding the highest standards of accountability reflects the guidance of European authorities which is in line with Malta’s broader governance reforms. By doing so, you reinforce the Bank’s reputation as a trusted national institution.
Once again, I’d like to express my gratitude for your commitment to the protection of Malta’s economic stability, your commitment to the trust in our financial institutions, to your help in sustaining a Malta that is stable, resilient, and forward-looking. A Malta where responsible stewardship, digital progress, and robust governance underpin our nation’s prosperity and stability.
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