Minister for Finance Prof. Edward Scicluna received a courtesy call from Commonwealth Deputy Secretary-General Mr. Deodat Maharaj in the last week of June 2014.
Mr Maharaj was accompanied by Adviser and Head of the Debt Management Section of the Commonwealth Secretariat Arindam Roy, and Adviser to the Debt Management Section of the Commonwealth Secretariat Pamella McLaren.
During the meeting, Prof. Scicluna and Mr. Maharaj had occasion to discuss Malta’s performance as an example to other small states.
Prof. Scicluna delivered an overview of Malta’s economic and fiscal situation, underlining that within the current Mediterranean context, it is not only Malta’s economic and fiscal stability that is being appreciated, but also the country’s political stability.
He noted that Malta is being percieved as an oasis of stability where other non European countries can establish important institutions with the peace of mind that these will be able to use Malta as a base of operations to function freely in neighbouring countries in North Africa and also beyond.
Prof. Scicluna also explained how, while remaining an active and cooperative Member State within the European Union, Malta is broadening its horizons by remaining open to partnerships and mutually beneficial relationships with other countries on a global level.
Mr. Maharaj welcomed Malta’s stability and economic performance as an example of how small economies can become centres of excellence, and that there is much that other commonwealth countries can learn from Malta in this regard.
He also especially welcomed Malta’s willingness to seek relationships with other countries outside of the EU, noting that in this also, Commonwealth countries have much to learn in order to keep developing new relationships in an ever-changing global context.
Commentary by Mr. Deodat Maharaj.. Strengthening our Partnership with Malta
I concluded my first visit to Malta the host of the 2015 Commonwealth Heads of Government Meeting on Friday 27 June 2014. During the two days in the country, I had the opportunity of engaging with the country’s leadership as well as advancing our initiatives both in supporting Malta and also where Malta is a strategic partner..
..During my meeting with Finance Minister, Hon Professor Edward Scicluna, amongst the things I discussed was the importance of the debt management work currently being delivered in Malta. We are assisting Malta enact an integrated and comprehensive Public Debt Management legislation, reflecting sound governance arrangements, reforming the policy framework of government cash management and shaping the medium-term debt management strategy of the country.
I was quite satisfied with the Minister’s endorsement of our assistance and would like to congratulate our Debt Management team on this very good work. We also had a stimulating discussion on policy options for stimulating economic growth in challenging circumstances.
http://thecommonwealth.org/
– Monday, 7th July, 2014
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