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Experiences and Lessons
Dollarization—the use of foreign currencies as a medium of exchange, store of value, or unit of account—is a notable feature of financial developm...
This Departmental Paper portrays a cross-country dimension of macroprudential policy implementation in Asia, advancing a comprehensive overview of ins...
Fragile states in sub-Saharan Africa (SSA) face challenges to respond to the effects of climate shocks and rising temperatures. Fragility is linked to...
There is significant room to improve public investment efficiency in sub-Saharan Africa. Investment in sub-Saharan African countries is lagging vis-à...
Balancing Financial Stability and Development
We propose a toolkit for the assessment of systemic risk buildup in low income countries. We show that, due to non-linearity in the relationship betwe...
The shift to inflation targeting has contributed to the relatively low inflation observed in some emerging market economies although, as noted by many...
Status and Prospects
Islamic finance is a fast growing activity in world markets. This paper provides a survey on Islamic Finance in SSA. Ongoing activities include Islami...
The Republic of Congo has seen dramatic improvement in its debt situation since 2010, following debt relief through the IMF and World Bank Heavily Ind...
Stress Testing Interconnected Banking Systems
This paper presents an integrated framework for assessing systemic risk. The framework models banks’ capital asset ratios as a function of future lo...
A Game Changer?
FinTech is a major force shaping the structure of the financial industry in sub-Saharan Africa. New technologies are being developed and implemented i...
Results from a Survey
Since the early 1990s, the IMF has been advising countries to shift to the use of indirect instruments for executing monetary policy. This paper provi...
Key Features and Challenges
Banking in SSA has undergone very significant changes over the last two decades. Financial liberalization and related reforms, upgrades in institution...
Using data collected from pan-African banks’ (PABs), balance sheets and other sources (Orbis, Fitch), this study identifies some key patterns of cro...
This technical note provides an assessment of how external sector statistics capacity development has improved the availability of balance of payments...
This paper explores the extent to which macroprudential tools can be used to manage banking sector risks in Mongolia, a commodity producing country ex...
Financial repression (legal restrictions on interest rates, credit allocation, capital movements, and other financial operations) was widely used in t...
Stress Testing with Weak Data
Stress testing has become the risk management tool du jour in the wake of the global financial crisis. In countries where the information reported by ...
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Strengthening Monetary Policy Implementation
The People's Bank of China (PBC) has made great strides in modernizing its monetary policy frameworks but their effectiveness will diminish as the sop...
How should a central bank organize itself to produce the best possible inflation forecast? This paper discusses elements for building a comprehensive ...