Future obligations are common in financial markets, where the risk of nonperformance is known as counterparty credit risk. In a credit default swap, for example, each side is seeking to alter credit exposure to the reference entity. The resulting contingent credit exposure to the counterparty is entirely incidental to the reason for the transaction, yet may be a first-order determinant of future performance.
We are fortunate to have invested in the Southern Cross Submarine Cable, which offers more than enough capacity to cater for the growth in the IT related initiatives. Before leaving this issue, I just want to emphasise the important role of fiscal policy in creating the enabling environment for growth and stability.