Guinea Financial Sector Stability Review

The IMF conducted a Financial Sector Stability Review of the Republic of Guinea in June 2019. The review shows that while the current economic situation is benign, the financial soundness indicators (FSIs) point to increasing vulnerabilities. The economic outlook is currently positive. Moreover, fin...

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Bibliographic Details
Corporate Author: International Monetary Fund Monetary and Capital Markets Department
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2020
Series:IMF Staff Country Reports
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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651 4 |a Guinea 
653 |a Bank legislation 
653 |a Economic & financial crises & disasters 
653 |a Depository Institutions 
653 |a Commercial banks 
653 |a Banks 
653 |a Finance 
653 |a Financial crises 
653 |a Financial sector stability 
653 |a Banks and banking 
653 |a Financial sector policy and analysis 
653 |a Financial institutions 
653 |a General Financial Markets: Government Policy and Regulation 
653 |a Micro Finance Institutions 
653 |a Deposit insurance 
653 |a Financial Institutions and Services: Government Policy and Regulation 
653 |a Crisis management 
653 |a Mortgages 
653 |a Crisis Management 
653 |a Banks and Banking 
653 |a Banking law 
653 |a Financial services industry 
653 |a Financial regulation and supervision 
653 |a Banking 
653 |a Financial Risk Management 
653 |a Finance: General 
653 |a Law and legislation 
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520 |a The IMF conducted a Financial Sector Stability Review of the Republic of Guinea in June 2019. The review shows that while the current economic situation is benign, the financial soundness indicators (FSIs) point to increasing vulnerabilities. The economic outlook is currently positive. Moreover, financial inclusion is growing rapidly as mobile money services are quickly adopted. However, the FSIs suggest growing vulnerabilities and possibly some idiosyncratic stress in the banking sector. As a result of data quality and availability issues, it is difficult to make a more in-depth assessment of financial stability and potential vulnerabilities. The financial sector structure is, to some extent, a mitigant to the potential financial stability vulnerabilities. All banks are part of foreign financial groups that they can fall back on during periods of stress. While the current economic situation is benign, it is an opportune moment to develop the necessary capacity to handle potential financial stability vulnerabilities. As a priority, on and offsite supervision and the availability and quality of data on the banking sector, and in a later stage also for the other financial sectors, should be significantly improved, and the regulatory framework for banks should be modernized