Ghana: Financial System Stability Assessment Update, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Insurance Regulation, and Securities Regulation
IMF Staff Country Reports, December 30, 2003
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- Ghana: Financial System Stability Assessment Update, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Insurance Regulation, and Securities Regulation
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Bibliographic details
- Published: December 30, 2003
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451814903.002
Executive summary and main vulnerabilities
- The main vulnerabilities in the financial sector are found in the banking system and the social security fund (SSNIT).
- The Ghanaian financial sector faces a large number of development challenges.
- Factual updates of Ghana’s observance of three international standards and codes show limited progress on the regulatory and supervisory front.
- IMF staff encouraged the authorities to:
- pursue passage of the money laundering bill, and
- seek technical assistance from the IMF to develop the essential infrastructure.
Findings on regulatory and supervisory framework
- Limited progress achieved on the regulatory and supervisory front based on factual updates of observance of international standards and codes.
- Areas of focus identified in subject keywords: Banking, Commercial banks, Financial institutions, Financial Sector Assessment Program, Financial sector policy and analysis, Government securities, Loans, Securities.
- Specific risk and technical terms preserved from source: bank, bank financing, bank supervisor, banking system, Commercial banks, CR, credit risk, debt management, deposit liability, financial condition, Financial Sector Assessment Program, Global, Government securities, interest rate, ISCR, loan, Loans, on-balance sheet exposure, prime rate, securities, securities portfolio, Sub-Saharan Africa, treasury bill, West Africa, world bank.
Policy recommendations and next steps (as stated)
- Passage of the money laundering bill.
- Request IMF technical assistance to develop essential financial infrastructure.