{
  "title": "Sub-Saharan Africa: Financial Sector Challenges",
  "publication": "Books, August 28, 2006",
  "sourceUrl": "https://www.imf.org/en/publications/books/issues/2016/12/31/sub-saharan-africa-financial-sector-challenges-19293",
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  "summary": "Financial sectors in low-income sub-Saharan Africa (SSA) are among the world's least developed. In fact, assets in most low-income African countries are smaller than those held by a single medium-sized bank in an industrial country.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Financial sectors in low-income sub-Saharan Africa (SSA) are among the world's least developed.\n- Assets in most low-income African countries are smaller than those held by a single medium-sized bank in an industrial country.\n- The absence of deep, efficient financial markets:\n  - seriously challenges policy making,\n  - hinders poverty alleviation,\n  - constrains growth.\n- The book argues that building efficient and sound financial sectors in SSA countries will improve Africa's economic prospects."
    },
    {
      "heading": "Key themes and analysis",
      "content": "- Review of the key features of financial systems in SSA.\n- Identification of main obstacles and challenges that current financial structures pose for SSA economies.\n- Discussion of how financial market underdevelopment affects:\n  - banking and commercial banks,\n  - credit and credit constraints,\n  - financial institutions and financial services,\n  - financial markets, including stock markets and money markets,\n  - portfolio diversification and lending.\n- Use of survey evidence and credit information indices to inform the assessment."
    },
    {
      "heading": "Findings",
      "content": "- Financial market depth and efficiency are severely limited across low-income SSA countries.\n- Relative size of financial assets in most low-income SSA countries is extremely small compared with banks in industrial countries.\n- Financial sector weaknesses have direct consequences for economic policy effectiveness, poverty alleviation, and growth prospects."
    },
    {
      "heading": "Policy recommendations and reform agenda",
      "content": "- Implement steps to build efficient and sound financial sectors in SSA to improve economic prospects.\n- Address major shortcomings identified in financial structures and in the implementation of reforms.\n- Strengthen financial market infrastructure to alleviate credit constraints and support lending and portfolio diversification."
    },
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      "heading": "Publication and metadata",
      "content": "- Authors: Catherine A Pattillo, Anne Marie Gulde, Kevin J Carey, Smita Wagh, Jakob E Christensen\n- Publication date: August 28, 2006\n- Pages: 57\n- ISBN: 9781589065659\n- DOI: https://doi.org/10.5089/9781589065659.071\n- Stock No: SSAFEA\n\nSource: https://www.imf.org/en/publications/books/issues/2016/12/31/sub-saharan-africa-financial-sector-challenges-19293\n\n---\n\n Content in this bundle\n\n- ssa\n  - ssa (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - ssa (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/books/issues/2016/12/31/sub-saharan-africa-financial-sector-challenges-19293"
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    "Authors: Catherine A Pattillo, Anne Marie Gulde, Kevin J Carey, Smita Wagh, Jakob E Christensen",
    "Published: August 28, 2006",
    "Series: Books",
    "DOI: https://doi.org/10.5089/9781589065659.071",
    "Financial sectors in low-income sub-Saharan Africa (SSA) are among the world's least developed.",
    "Assets in most low-income African countries are smaller than those held by a single medium-sized bank in an industrial country.",
    "The absence of deep, efficient financial markets:",
    "The book argues that building efficient and sound financial sectors in SSA countries will improve Africa's economic prospects.",
    "Review of the key features of financial systems in SSA.",
    "Identification of main obstacles and challenges that current financial structures pose for SSA economies.",
    "Discussion of how financial market underdevelopment affects:",
    "Use of survey evidence and credit information indices to inform the assessment.",
    "Financial market depth and efficiency are severely limited across low-income SSA countries.",
    "Relative size of financial assets in most low-income SSA countries is extremely small compared with banks in industrial countries.",
    "Financial sector weaknesses have direct consequences for economic policy effectiveness, poverty alleviation, and growth prospects.",
    "Implement steps to build efficient and sound financial sectors in SSA to improve economic prospects.",
    "Address major shortcomings identified in financial structures and in the implementation of reforms.",
    "Strengthen financial market infrastructure to alleviate credit constraints and support lending and portfolio diversification.",
    "Authors: Catherine A Pattillo, Anne Marie Gulde, Kevin J Carey, Smita Wagh, Jakob E Christensen",
    "Publication date: August 28, 2006",
    "Pages: 57",
    "ISBN: 9781589065659",
    "DOI: https://doi.org/10.5089/9781589065659.071",
    "Stock No: SSAFEA",
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