In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
This paper provides detailed assessment of the Central African Economic and Monetary Community's (CEMAC’s) financial system. Over the past decade, primarily as a result of high oil prices, CEMAC achieved robust economic growth, although lower than the SSA average, but insufficient to significantly reduce poverty. A poor business climate and weak governance are hampering financial sector development and its contribution to financing investments. The weakness of regional integration also limits the growth potential. The drop in oil prices by about 60 percent between June 2014 and January 2015 has had a large impact on CEMAC countries’ macroeconomic performance.
Senegal’s financial sector is dominated by 10 commercial banks, which account for more than 85 percent of total financial sector assets. The banking system in the country has gradually regained health and is generally well regulated and supervised. The high concentration of credit risk in bank loan portfolios is unavoidable given that banks have little scope for further portfolio diversification. Microfinance development in the country has kept pace with the dynamic evolution of this sector in the West African Economic and Monetary Union region.
This paper discusses the Financial System Stability Assessment for South Africa, and reviews the Report on the Observance of Standards and Codes on Securities Regulation. The assessment reveals that South Africa’s sophisticated financial system is fundamentally sound and has so far weathered the global financial market turmoil without major pressures. Banks and insurance companies have enjoyed good profitability, capitalization levels, and reserves. The financial sector regulatory framework is modern and generally effective. Stress tests suggest that capital and reserve cushions at banks and insurance companies are sufficient to absorb large shocks.
This paper presents key findings of the Financial System Stability Assessment for Gabon, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, and Insurance Regulation. The assessment reveals that the Gabonese financial sector is dominated by a relatively sound but small banking sector that focuses squarely on the formal sector. The operating environment is characterized by a fixed peg to the euro, heavy dependence on oil exports, and continued government presence in both the enterprise and financial sectors.
This book traces the development and impact of regional economic communities (RECs) in Africa and addresses a timely question: do REC members, and the REC itself, positively influence member states’ behaviors towards other members and more broadly, regionally and continentally due to REC membership? ‘Changing member states’ behaviors’ is measured across three ‘interconnected, fundamental dimensions of societal-systems’ proposed by Marshall and Elzinga Marshall in CSP’s Global Repot 2017. These are i) the persistence of conflict or its counterpoint, achieving peace, ii) fostering democratization and better governance, and iii) achieving socio-economic development and (as proposed by this research, a fourth dimension), iv) being active participants in multilateralism? Is membership in a REC ultimately beneficial to the member and other countries in the region? While there are no clear and obvious – at least, discernible traditional – benefits such as increase in trade (perhaps because Africa’s overall trade relative to the world is about 3 percent), there are other non trade benefits (e.g., decrease in conflict, coercion to take certain actions towards peace and refrain from others, coups and wars) presenting in REC member states. These in/actions, abilities, coercions, exclusions and cooperation instances are outlined and discussed in the book.
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
