That contrast – the increasing economic weight of Asia and the continuing dominance of American behaviour in financial markets – is in many ways at the centre of the set of challenges facing Australia, and I suspect other countries, right now. Before coming to that, however, it is fitting to begin with some remarks about the US economy.
Credit by the banking sector in Kenya has to a large extent been underwritten by physical collateral such as land. Borrowers without access to such collateral have been constrained in accessing credit. Credit information sharing will enable borrowers build a track record that can be used in accessing credit.