Senegal: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency; and Securities Supervision
IMF Staff Country Reports, October 26, 2001
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- Senegal: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency; and Securities Supervision
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Bibliographic details
- Published: October 26, 2001
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451833942.002
Overview and key findings
- Senegal’s financial sector is dominated by 10 commercial banks, which account for more than 85 percent of total financial sector assets.
- The banking system in the country has gradually regained health and is generally well regulated and supervised.
- The high concentration of credit risk in bank loan portfolios is unavoidable given that banks have little scope for further portfolio diversification.
- Microfinance development in the country has kept pace with the dynamic evolution of this sector in the West African Economic and Monetary Union region.
Subjects and analytical scope
- Banking; Basel Core Principles; Commercial banks; Economic sectors; Financial institutions; Financial markets; Financial regulation and supervision; Financial sector; Financial Sector Assessment Program; Financial sector policy and analysis; Loans; Market risk; Securities; Securities markets.
- Geographic and thematic keywords: Africa; bank capital; banking system; Banque Centrale des Etats; broad money; capital market; CFA franc; Commercial banks; Conférence Interafricaine; CR; credit risk; exchange rate; Financial sector; Financial Sector Assessment Program; financial system; foreign exchange; housing bank; insider trading; institution de Prévoyance Retraite du Sénégal; interbank market; interest rate; intervention instrument; ISCR; Loans; MFP transparency code; monetary management; Policy transparency; publication policy; Securities; Securities markets; West Africa; World Bank mission.
Policy-relevant implications (implicit in findings)
- Strengthen supervisory and regulatory frameworks to maintain the regained health of the banking system and manage concentration risks.
- Consider measures to broaden credit portfolio diversification options for banks, acknowledging limited current scope for diversification.
- Support continued development and oversight of the microfinance sector consistent with regional evolution in the West African Economic and Monetary Union.