Sub-saharan Africa
Subtitle: Financial Sector Challenges
Publisher: International Monetary Fund
Published: September 30, 2006
Language: eng
Format: Paperback
Number of pages: 50
ISBN-13: 9781589065659
Subjects: Development economics; International economics; Sub-Saharan Africa; General; Political Science; Africa, Sub-Saharan; Finance; Financial institutions; Financial services industry; Politics/International Relations
Description: Financial sectors in low-income sub-Saharan Africa (SSA) are among the world's least developed. In fact, assets in most low-income African countries are smaller than those held by a single medium-sized bank in an industrial country. The absence of deep, efficient financial markets seriously challenges policy making, hinders poverty alleviation, and constrains growth. This book argues that building efficient and sound financial sectors in SSA countries will improve Africa's economic prospects. Based on a review of the key features of financial systems, it discusses the main obstacles and challenges that financial structures pose for SSA economies and recommends steps that could address major shortcomings in implementing the reform agenda.