Nearly a decade on from the global financial crisis, the Bank for International Settlements (BIS) has allowed a note of optimism to creep into its annual report, which was published today (June 25). Nevertheless, it urges countries to take advantage of the good times, because for some, dark clouds are appearing on the horizon.

In the past 12 months, the global economy has left the doldrums of earlier years behind. Economic prospects are the “best in a long time”, the BIS report says. Global