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Recent Credit Stagnation in the MENA Region: What to Expect? What Can Be Done?

Author/Editor: Barajas, Adolfo | Chami, Ralph | Espinoza, Raphael A. | Hesse, Heiko
Authorized for Distribution: September 1, 2010
Electronic Access: Free Full Text (PDF file size is 1,129KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: This paper examines the recent credit slowdown among Middle Eastern and North African (MENA) countries from three analytical angles. First, it finds that, similar to other regions and to its past history, a credit boom preceded the current slowdown, and that a protracted period of sluggish growth is likely going forward. Second, it uncovers a key role played by bank funding (deposit growth and external borrowing slowed considerably) but whose effect was frequently dampened by expansionary monetary policy. Third, bank-level fundamentals - capitalization and loan quality - helped to explain differences in credit growth across banks and countries.
 
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Series: Working Paper No. 10/219
Subject(s): Bank credit | Banking sector | Credit expansion | Cross country analysis | Economic growth | Middle East | Monetary policy | North Africa
Author's keyword(s): Credit boom | deposit | banks balance sheet
 
English  
    Published:   September 1, 2010        
            Format:   Paper
    Stock No:   WPIEA2010219   Pages:   19
    Price:   US$18.00 (Academic Rate: US$18.00 )
       
     
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