As you can see from the chart, the longer we wait to improve the quality of the institutions that underpin domestic growth and living standards, the larger the gap will be that separates the best from the rest. My next slide emphasises the close empirical relationship between the quality of national institutions and living standards.
Ladies and Gentlemen, let me in conclusion once more applaud the decision of FirstCaribbean to construct this facility at Warrens. As Barbados strives to become a financial hub in the Caribbean region more of these kinds of initiatives will be required if we are to achieve that goal.