{
  "title": "Burundi: Technical Assistance Report-Financial Sector Stability Review",
  "publication": "Technical Assistance Reports, March 19, 2025",
  "sourceUrl": "https://www.imf.org/en/publications/technical-assistance-reports/issues/2025/03/19/burundi-technical-assistance-report-financial-sector-stability-review-565321",
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  "summary": "In response to a request from the Bank of the Republic of Burundi (BRB), the Monetary and Capital Markets Department (MCM) of the International Monetary Fund (IMF) carried out a Financial Sector Stability Review (FSSR) mission from January 31 through February 13, 2024.",
  "sections": [
    {
      "heading": "Summary of the engagement",
      "content": "- Mission and timing:\n  - The Monetary and Capital Markets Department (MCM) of the International Monetary Fund (IMF) carried out a Financial Sector Stability Review (FSSR) mission from January 31 through February 13, 2024.\n  - The FSSR responded to a request from the Bank of the Republic of Burundi (BRB).\n- Objectives:\n  - Performed a diagnostic assessment of the financial system oversight framework.\n  - Reviewed progress in implementing technical assistance (TA) recommendations of 2019–2024.\n  - Developed a draft Technical Assistance Roadmap (TARM) to improve financial system stability by strengthening the BRB’s capacity.\n- Expected outcome:\n  - Implementing the report’s recommendations will bolster financial stability and support economic growth."
    },
    {
      "heading": "Main macro-financial vulnerabilities identified",
      "content": "- Difficulty of assessing credit quality:\n  - Linked to the boom in lending in 2021–2022.\n  - Worsened by non-adherence to the International Financial Reporting Standard 9 (IFRS9) and to the rules on credit risk from the Basel Committee on Banking Supervision (BCBS).\n- Exchange rate risk:\n  - Risk related to exchange rate depreciation.\n- Sovereign-banks nexus:\n  - Risks arising from interactions between public finances and the banking sector.\n- Concentration risks:\n  - Concentration of assets (large exposures) and liabilities (deposits) noted.\n  - Recommendation that prudential rules and regulations should be more rigorously applied and that concentration should be given greater consideration in supervision and stress tests."
    },
    {
      "heading": "Key recommendations and supervisory priorities",
      "content": "- Strengthen the BRB’s supervisory capacity before enhancing prudential regulations.\n- Address systemic risks through:\n  - Improved stress testing.\n  - A strengthened crisis management framework.\n- Give greater consideration to asset and liability concentration in:\n  - Supervision.\n  - Stress testing exercises.\n- Implement the draft Technical Assistance Roadmap (TARM) to strengthen BRB capacity and improve financial system stability.\n\n---\n\n Content in this bundle\n\n- tarea2025029-print-pdf\n  - tarea2025029-print-pdf (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - tarea2025029-print-pdf (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/technical-assistance-reports/issues/2025/03/19/burundi-technical-assistance-report-financial-sector-stability-review-565321"
    }
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    "Published: March 19, 2025",
    "Series: Technical Assistance Reports",
    "DOI: https://doi.org/10.5089/9798229004213.019",
    "Mission and timing:",
    "Objectives:",
    "Expected outcome:",
    "Difficulty of assessing credit quality:",
    "Exchange rate risk:",
    "Sovereign-banks nexus:",
    "Concentration risks:",
    "Strengthen the BRB’s supervisory capacity before enhancing prudential regulations.",
    "Address systemic risks through:",
    "Give greater consideration to asset and liability concentration in:",
    "Implement the draft Technical Assistance Roadmap (TARM) to strengthen BRB capacity and improve financial system stability.",
    "**tarea2025029-print-pdf**"
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