South Africa: Financial Sector Assessment Program-Financial System Stability Assessment
IMF Staff Country Reports, February 11, 2022
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- South Africa: Financial Sector Assessment Program-Financial System Stability Assessment
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Bibliographic details
- Published: February 11, 2022
- Series: IMF Staff Country Reports
Main findings and outlook
- The economy recovered strongly in 2021, following an unprecedented real output contraction in 2020.
- The outlook remains precarious amidst projected future low growth, high unemployment and adverse debt dynamics.
- The recovery pace is unlikely to be sustained.
Financial system resilience
- Ample buffers allowed the financial system to handle the COVID-19 shock relatively well.
Risks and potential implications
- Domestic and external downside risks remain substantial—with potential implications for asset quality, profitability, and solvency.
Source: South Africa: Financial Sector Assessment Program-Financial System Stability Assessment, IMF Staff Country Reports, February 11, 2022.
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