Executive Summary government securities. However, it does not interfere in the market. Treasury bills issued in the market in 2005/2006 and 2006/2007 stimulated the mobilisation of domestic savings and an increase in foreign investments because of favourable interest rates. Executive Summary 1.126 The stakes and challenges confronting present-day Mauritius call for firm agreement about its most essential objective. This is to lay the foundations for a modern and solid economy as well as a conscious and responsible Mauritian and African citizenship. 1.123 The Bank of Mauritius manages government securities to achieve its mission of administering monetary policy and advising government. The BoM’s Monitary Policy committee (MPC) was established in March 2007 to ensure that the capital market was transparent and efficient and to develop monetary policy. The committee enables the BoM and the government to monitor market trends regularly, to intervene in the market in order to mobilise necessary resources for the government, to ensure that liquidity is properly managed, and to regulate interest rates. The committee meets at least once every quarter or whenever it is necessary. The committee publishes its decisions directly. Public-private sector partnerships. 1.124 Mauritius is a country with effective and efficient public-private sector partnerships. The economic success of the country flows from these excellent partnerships and is led by the private sector. The government consults with members of the private sector on an as-needed basis to promote their interests through mechanisms such as the Joint Economic Council (JEC) where matters of policy development and implementation are discussed. The JEC comprises nine business associations representing large enterprises that control about 90 per cent of Mauritian business and contribute close to 80 per cent of investments in the country. 9. CONCLUSION 1.125 The country in general, and the authorities in particular, are responsible for building on the country’s assets and overcoming the obstacles to governance and socioeconomic development. This is a legitimate and realistic ambition, and the country must mobilise all stakeholders to achieve it. Mauritius needs a strong political will to address the challenges and constraints and to build on the country’s strengths through a consensual approach to negotiations that involve all stakeholders of Mauritian society – government, political parties, the private sector, trade unions and civil society organisations. This will be the basis for building a strong and emerging Mauritius of tomorrow. 36 37