BoV Economics Award winner announced
Omar Cutajar has won the BoV Economics Award 2003, with Pauline Mercieca as runner-up. The awards were presented during a seminar at BoV's Head Office in Sliema by Paul Spiteri, executive head, Corporate Strategy, of Bank of Valletta plc. The winners...
Omar Cutajar has won the BoV Economics Award 2003, with Pauline Mercieca as runner-up. The awards were presented during a seminar at BoV's Head Office in Sliema by Paul Spiteri, executive head, Corporate Strategy, of Bank of Valletta plc. The winners received cash prizes amounting to Lm650.
The BoV Economics Award is an annual essay competition, open to the public, organised by BoV's Economic Research Unit in consultation with the Economics Department at the University of Malta.
The themes for the BoV Economics Award 2003 focused on Malta's participation in EMU and investment in technology and innovation as a means for long-term growth.
Mr Cutajar's winning essay delved into the strategic prospects of Malta's eventual adoption of the Euro. He discussed the challenges faced by our economy and Malta's participation in the 'Excessive Deficit Procedure' and the 'Stability and Growth Pact'.
Particular importance was placed on the exchange rate policy and on fiscal consolidation. Mr Cutajar said: "The euro success story can be emulated locally through an internationally respected supranational monetary policy, strong and resilient enough not to compromise low inflation and interest rates."
Gordon Cordina from the Department of Economics at the University of Malta emphasised the importance of such initiatives, which encourage new research relating to the Maltese economy.
On the other hand, Mr Spiteri noted: "The BoV Economics Award is becoming increasingly popular, especially with students reading for economic and financial related degrees as well as professionals working in the financial services sector.
"As a financial organisation with a leading role within the local socio-economic scenario, Bank of Valletta is pleased to provide a platform for academic research and in-depth discussion of issues that are relevant to the economic scenario prevailing in our country."
During the seminar, Karl Scerri from the Central Bank of Malta gave a presentation on imported inflation. He analysed the transmission of foreign inflation and exchange rate variations to retail prices in Malta.