West African Economic and Monetary Union: Financial Sector Assessment Program–Financial System Stability Assessment
IMF Staff Country Reports, May 11, 2022
Source details
- Canonical URL
- West African Economic and Monetary Union: Financial Sector Assessment Program–Financial System Stability Assessment
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Bibliographic details
- Published: May 11, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400207976.002
Summary
- The Financial Sector Assessment Program (FSAP) was conducted amid an economic rebound two years into the COVID-19 pandemic that had a limited impact on the financial sector.
- Several member states have experienced political instability, with coups in Burkina Faso and Mali leading to economic sanctions for the latter, and an attempted coup in Guinea-Bissau.
- Short of further political deterioration, economic recovery is expected to persist.
- The last FSAP was conducted in 2008.
Major findings and focus areas
- Financial sector experienced only limited impact from the COVID-19 pandemic during the recovery period.
- Political instability among member states (coups in Burkina Faso and Mali; attempted coup in Guinea-Bissau) with economic sanctions imposed on Mali.
- Emphasis on financial sector stability, stress testing, and market risk assessment.
- Interaction with World Bank FSAP noted.
Subjects and keywords (as listed)
- Subjects:
- Financial regulation and supervision
- Financial Sector Assessment Program
- Financial sector policy and analysis
- Financial sector stability
- International organization
- Market risk
- Monetary policy
- Stress testing
- Keywords:
- Basel III liquidity requirement
- Financial Sector Assessment Program
- Financial sector stability
- FSAP finding
- liquidity stress test scenario
- liquidity support
- Market risk
- Stress testing
- West Africa
- World Bank FSAP
Content in this bundle
- 1wauea2022003