{
  "title": "South Africa: Financial Sector Assessment Program-Financial System Stability Assessment",
  "publication": "IMF Staff Country Reports, February 11, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/02/11/south-africa-financial-sector-assessment-program-financial-system-stability-assessment-513014",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2022/02/11/south-africa-financial-sector-assessment-program-financial-system-stability-assessment-513014",
  "overlayPath": "/en/publications/cr/issues/2022/02/11/south-africa-financial-sector-assessment-program-financial-system-stability-assessment-513014/index.md",
  "summary": "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.",
  "sections": [
    {
      "heading": "Main findings and outlook",
      "content": "- The economy recovered strongly in 2021, following an unprecedented real output contraction in 2020.\n- The outlook remains precarious amidst projected future low growth, high unemployment and adverse debt dynamics.\n- The recovery pace is unlikely to be sustained."
    },
    {
      "heading": "Financial system resilience",
      "content": "- Ample buffers allowed the financial system to handle the COVID-19 shock relatively well."
    },
    {
      "heading": "Risks and potential implications",
      "content": "- Domestic and external downside risks remain substantial—with potential implications for asset quality, profitability, and solvency.\n\nSource: South Africa: Financial Sector Assessment Program-Financial System Stability Assessment, IMF Staff Country Reports, February 11, 2022.\n\n---\n\n Content in this bundle\n\n- 1zafea2022003\n  - 1zafea2022003 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1zafea2022003 (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2022/02/11/south-africa-financial-sector-assessment-program-financial-system-stability-assessment-513014/index.md)",
    "[Structured JSON version](/en/publications/cr/issues/2022/02/11/south-africa-financial-sector-assessment-program-financial-system-stability-assessment-513014/index.json)",
    "[Bundle manifest](/en/publications/cr/issues/2022/02/11/south-africa-financial-sector-assessment-program-financial-system-stability-assessment-513014/bundle-manifest.json)",
    "Published: February 11, 2022",
    "Series: IMF Staff Country Reports",
    "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.",
    "Ample buffers allowed the financial system to handle the COVID-19 shock relatively well.",
    "Domestic and external downside risks remain substantial—with potential implications for asset quality, profitability, and solvency.",
    "**1zafea2022003**"
  ],
  "related": [
    {
      "title": "1zafea2022003",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/files/publications/cr/2022/english/1zafea2022003.pdf",
      "summary": {
        "path": "/-/media/files/publications/cr/2022/english/1zafea2022003.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/publications/cr/2022/english/1zafea2022003.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/cr/issues/2022/02/11/south-africa-financial-sector-assessment-program-financial-system-stability-assessment-513014/index.md",
    "json": "/en/publications/cr/issues/2022/02/11/south-africa-financial-sector-assessment-program-financial-system-stability-assessment-513014/index.json",
    "bundleManifest": "/en/publications/cr/issues/2022/02/11/south-africa-financial-sector-assessment-program-financial-system-stability-assessment-513014/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-12T08:40:58.013Z"
}