Large stocks of foreign exchange reserves have accumulated, balance sheets of both the corporate and banking sectors have improved, and structural reforms in various areas have proceeded, all of which have contributed to making East Asia more resilient to external shocks. It is highly likely that East Asia will continue to play a major part in the sustained growth of the world economy.
Mobile banking has already had a major impact on broadening access to basic financial services in East Africa. The benefits in terms of financial inclusion will themselves have important economic consequences, for business and household welfare. But I think that we are probably still only at the beginning of the transformation which mobile banking will create in our economy and society.