The Central Bank of Malta’s first fifty years : a solid foundation for the future

Abstract

This year marks the fiftieth anniversary of the Central Bank of Malta. This publication is one of a series of events organised specifically to commemorate this important milestone. The notion of a central bank for the Maltese Islands was promoted in 1964 by a United Nations team of experts following a mission in Malta intended to study the problems associated with the restructuring of the Maltese economy in view of the planned closure of the British military bases. Within this context, the establishment of the Central Bank of Malta was intended to fill an important gap in the country’s financial infrastructure, especially in respect to the advice to Government on economic, financial and monetary matters. Since then, this institution and indeed, the Maltese economy as a whole, have changed beyond recognition. However, it is by better understanding the past that we can identify key lessons from which to build a solid foundation for our future.