This Financial System Stability Assessment on France reviews the institutional and regulatory framework. Consolidation among financial institutions has resulted in six large universal, vertically integrated banking groups having a strong position in the domestic market. Bank profitability has...

The Kingdom of Bahrain’s Financial System Stability Assessment highlights banking supervision, insurance supervision, securities regulation, and antimoney laundering and combating the financing of terrorism. The banking sector is well capitalized. Asset quality has been improving and...

Macroeconomic developments in the Central African Economic and Monetary Community (CEMAC) region have been satisfactory, but risks to macroeconomic stability persist. The process of convergence remains slow and needs strengthening, notably through the adoption of a fiscal rule and the...

Australia’s 2004 Article IV Consultation reports that economic growth has rebounded, underpinned by continued buoyancy of domestic demand, an improvement in the external environment, and a gradual recovery from the drought. The main risk to the outlook relates to overheating in the...

This report summarizes the assessment of Liechtenstein's compliance with internationally accepted standards for the regulatory and supervisory arrangements of the financial sector. It provides detailed assessments of Liechtenstein’s implementation of international supervisory and...

In 2003, Guinea's macroeconomic management deteriorated significantly, and the prospects for 2003 are uncertain at best. Performance under the 2002–03 poverty reduction and growth facility (PRGF)-supported program is weak. The main challenge is to promote and sustain the strong private...

The program of budget restraint and reduction of the quasi-fiscal losses, supported by the IMF's Stand-By Arrangement, was successful in bringing domestic demand down to sustainable levels, lowering inflation, and narrowing the current account deficit. The stabilization effort was supported by...

This report examines recent economic developments and regional policy issues in the West African Economic and Monetary Union (WAEMU). Although progress has been achieved on the integration front since 1994, including the establishment of a customs union and the creation of the economic union,...