Goldman Sachs, whose former head of global economic research Jim O’Neill coined the term 'Bric' for the dominant emerging markets, has issued a warning to these growing economies that their infrastructure programmes may not be moving quickly enough keep them ahead of the pack.

A note from the bank on Friday said Brazil, Russia, India and China would have to increase the speed of their infrastructure projects to develop in line with other parts of the world and consider using private sector money to do so.