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Africa > Malawi

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Cover Selected Decisions and Selected Documents of the International Monetary Fund
Selected Decisions and Selected Documents of the International Monetary Fund
Forty-Third Issue Supplement
International Monetary Fund. Legal Dept.

Abstract

A supplement to the Forty-Third Issue of Selected Decisions and Selected Documents of the International Monetary Fund, incorporating items posted after January 1, 2023.

Keywords:
MCP decision; Review of the Fund's Policy; payments policy; adequacy assessment framework; fund surveillance; Balance of payments need; Anti-money laundering and combating the financing of terrorism (AML/CFT); Liquidity; Lines of credit; Global
Cover IMF Working Papers
Determinants of Bank Interest Margins in Sub-Saharan Africa
Mr. Calixte Ahokpossi
Financial intermediation is low in sub-Saharan Africa (SSA) compared to other regions of the world. This paper examines the determinants of bank interest margins using a sample of 456 banks in 41 SSA countries. The results show that market concentration is positively associated with interest margins, but the impact depends on the level of efficiency of each bank. In particular, compared to inefficient banks, efficient ones increase their margins more in concentrated markets. This indicates that policies that promote competition and reduce market concentration would help lower interest margins in SSA. The results also show that bank-specific factors such as credit risk, liquidity risk, and bank equity are important determinants of interest margins. Finally, interest margins are sensitive to inflation, but not to economic growth or public or foreign ownership. There are regional differences within SSA regarding the level of interest margins even after controlling for other factors.
Keywords:
WP; center; bank; interest margin; Banks interest margins; commercial banks; bank margin; bank inefficiency; bank activity; bank data; bank size; bank characteristic; bank behavior; Credit risk; Liquidity risk; State-owned banks; Foreign banks; Sub-Saharan Africa; East Africa; West Africa; Southern Africa
Cover Policy Papers
Framework Administered Account for Selected Fund Activities—East Africa Regional Technical Assistance Center (AFRITAC East) Subaccount
International Monetary Fund
In March 2009, the Fund established a new Framework Administered Account to administer external financial resources for selected Fund activities (the “SFA Instrument”). The financing of activities under the terms of the SFA Instrument is implemented through the establishment and operation of a subaccount within the SFA. The subaccount for the East Africa Regional Technical Assistance Center (AFRITAC East) would be the third one under the SFA. This paper requests Executive Board approval to establish the AFRITAC East subaccount under the terms of the SFA Instrument.
Keywords:
PP; Subaccount; AFRITAC east; contributor; terms and conditions of the Subaccount; East Africa region; resources of the Subaccount; d. contributor; activities-East Africa; Anti-money laundering and combating the financing of terrorism (AML/CFT); East Africa
Cover IMF Working Papers
Financial Reforms and Interest Rate Spreads in the Commercial Banking System in Malawi
Mr. Ephraim W. Chirwa
and
Mr. Montfort Mlachila
This study investigates the impact of financial sector reforms on interest rate spreads in the commercial banking system in Malawi. The financial reform program commenced in 1989 when both the Reserve Bank Act and the Banking Act were revised with the easing of entry requirements into the banking system, and indirect monetary policy instruments were subsequently introduced in 1990. The adoption of a floating exchange rate in 1994 marked the end of major policy reforms in the Malawian financial sector. Using alternative definitions of spreads, our analysis shows that spreads increased significantly following liberalization, and panel regression results suggest that the observed high spreads can be attributed to high monopoly power, high reserve requirements, high central bank discount rate and high inflation.
Keywords:
WP; liberalization; bank; commercial bank; interest rate; financial product; Commercial banks; interest spreads; financial liberalization; Malawi; market share; monetary policy; bank behavior; bank spread; Financial sector reform; Discount rates; Reserve requirements; Deposit rates; Sub-Saharan Africa
Cover IMF Survey
IMF Survey: Volume 28, Issue 01
International Monetary Fund. External Relations Dept.
The Web edition of the IMF Survey is updated several times a week, and contains a wealth of articles about topical policy and economic issues in the news. Access the latest IMF research, read interviews, and listen to podcasts given by top IMF economists on important issues in the global economy. www.imf.org/external/pubs/ft/survey/so/home.aspx
Keywords:
SV; IMF's Administration Department; structural adjustment Facility; ESAF arrangement; IMF Deputy managing director Shigemitsu Sugisaki; contingency financing facility; IMF Deputy managing director Alassane D. Ouattara; reserve facility; Lender of last resort; SDR interest rate; International monetary system; Inflation; Africa; Global; Europe; Sub-Saharan Africa; Southeast Asia
Cover Summary Proceedings of the Nineteenth Annual Meeting of the Board of Governors 1964
Summary Proceedings of the Nineteenth Annual Meeting of the Board of Governors 1964
International Monetary Fund. Secretary's Department

Abstract

The speeches made by officials attending the IMF–World Bank Annual Meetings are published in this volume, along with the press communiqués issued by the International Monetary and Financial Committee and the Development Committee at the conclusion of the meetings.

Keywords:
AS; executive director; word; fund; central bank Governors; congressional adviser; S.J. Handfield-Jones; board of governors of the fund; balance of payments difficulty; International liquidity; International monetary system; Liquidity; Gold; Exports; Central America; Europe; Africa; Western Europe; East Africa; foregoing Resolution; balance of payments difficulties; Liquidity risk; South America