That is, even with an abundance of resources in terms of land, livestock, labour, skills and ability, as well as public infrastructure and services, their productivity and benefit to society will be suboptimal in the absence of cost-effective access to financial services.
As you know, the Financial Stability Forum (FSF; now the FSB), of which the IASB, IOSCO and others are key members, has had a proven record of supporting IFRS as one of the 12 key international standards that promote financial stability, and in providing constructive recommendations that enhance transparency and related IASB standards.