South Africa: Financial Sector Assessment Program-Financial System Stability Assessment
February 11, 2022
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The economy recovered strongly in 2021, following an unprecedented real output contraction in 2020. However, the outlook remains precarious amidst projected future low growth, high unemployment and adverse debt dynamics, and the recovery pace is unlikely to be sustained. Ample buffers allowed the financial system to handle the COVID-19 shock relatively well, but domestic and external downside risks remain substantial—with potential implications for asset quality, profitability, and solvency.
Subject: COVID-19, Financial institutions, Financial regulation and supervision, Financial Sector Assessment Program, Financial sector policy and analysis, Health, Insurance companies, International organization, Monetary policy, Stress testing
Keywords: Africa, B. bank solvency stress tests, coverage ratio, COVID-19, D. nonbank risk analysis, Financial Sector Assessment Program, financial system structure, foster market entry, FSAP finding, Global, IMF mission chief, increase capital market financing, Insurance companies, Stress testing
Pages:
64
Volume:
2022
DOI:
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Issue:
039
Series:
Country Report No. 2022/039
Stock No:
1ZAFEA2022003
ISBN:
9798400200885
ISSN:
1934-7685
