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Sub-Saharan Africa
Financial Sector Challenges
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Abstract

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.

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Author:
Ms. Catherine A Pattillo
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,
Ms. Anne Marie Gulde
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Mr. Kevin J Carey
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Ms. Smita Wagh
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, and
Mr. Jakob E Christensen
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Series:
Books
Publisher:
International Monetary Fund
Language:
English
Publication Date:
28 Aug 2006
DOI:
https://doi.org/10.5089/9781589065659.071
ISBN:
9781589065659
Pages:
57
Keywords:
BOOK; bank; SSA bank; financial market imperfection; lending; development bank; renewed reform effort; credit information indices; Commercial banks; Financial sector; Credit; Stock markets; Africa; Sub-Saharan Africa; Southern Africa; credit constraint; survey evidence; portfolio diversification
Legal-disclaimer:
The views expressed in this book are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management. The boundaries, colors, denominations, and any other information shown on the maps do not imply, on the part of the IMF, any judgment on the legal status of any territory or any endorsement or acceptance of such boundaries.
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