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By Chin-Long Yang, Governor, Central Bank of the Republic of China (Taiwan)

Paul Chan Mo-po, Financial Secretary, The Government of Hong Kong Special Administration Region

By Dimitar Radev, Governor, Bulgarian National Bank

The Cayman Islands continues to be one of the world's top international financial centres. It is the leading domicile for hedge funds and currently ranks second worldwide for captive insurers. The Cayman Islands is also home to licensed banks from over 30 countries, including a significant number of the top 50 banks worldwide. At the end of 2017, the Cayman Islands' ranking as an international banking centre stood at 8th and 7th in terms of cross-border assets and liabilities, respectively, with the majority of positions being cross-border providing capital to the global economy.

Croatia had another successful year in macroeconomic terms, despite a number of challenges along the way. The domestic economy continued to grow propped up by expanding personal consumption and favourable exports performance. Positive trends also continued in the labour market, with declining unemployment, while inflation returned to positive territory. The current account remained in surplus, supported by growing exports, while external vulnerability indicators have continued improving. Fiscal policy commitment to a balanced budget ensured the continued decrease in public debt. Expansionary monetary policy supported economic recovery and improvement in financing conditions – interest rates fell and lending recovered.

By György Matolcsy, Governor, Magyar Nemzeti Bank

By Philip R Lane, Governor, Central Bank of Ireland

By Marwan Mikhael, Head of Research, BLOMINVEST Bank

By Eileen Toledano, head of financial services, and Dan Gan-Zvi, banking thought leadership manager, KPMG Somekh-Chaikin

The global recession is finally being superseded by an economic upswing. To reap the full benefits of the upswing and to sustain it, we must allow continued global integration and trade. Globalization is beneficial for all our economies. It lowers prices and increases choices of products available. It brings us better technology allowing us to produce new and improved goods and services. Most importantly, it leads to a more efficient division of labour and higher productivity.