The closing of the infrastructure gap will only be possible if resources can be mobilised in a sustainable manner; i.e. in a manner that is consistent with the economic viability of projects, taking into consideration their commercial nature, and the fiscal sustainability of the Governments which back infrastructure projects. It is these issues that I will focus my discussion on today.
The increase in interdependence on the financial side has been even more impressive, with the share of gross international asset holdings in world GDP – which provides a measure of financial openness – having exhibited an eightfold increase over the last 25 years; now standing at more than 130% of world GDP.