The overall state of financial inclusion in Russia is relatively advanced along certain basic metrics. The number of adults with accounts at a financial institution stands at 67.4 percent, which compares well to the Europe and Central Asia (ECA) regional average of 51.4 percent. Account...

China has made significant progress in financial inclusion. High levels of account penetration, savings, and usage of payments services have been achieved, largely due to extensive branches and access points (particularly a vast network of rural cash withdrawal points), innovations by non-bank...

This 2013 Article IV Consultation highlights that high oil prices and increased production have enabled the government in Kuwait to continue to record high fiscal and external surpluses and build strong buffers. Overall real non-oil GDP growth is projected to increase modestly to 3 percent in...

This paper presents key discussions of Cameroon’s 2013 Article IV Consultation. Economic activity in Cameroon has continued to recover gradually from the global financial crisis in 2008–2009, and inflation has remained subdued. In light of growing vulnerabilities, the report...

This paper discusses the findings of the assessments on Basel Core Principles for Effective Banking Supervision in India. The Reserve Bank of India is to be commended for its tightly controlled regulatory and supervisory regime, consisting of higher than minimum capital requirements; frequent,...

The Global Informal Workforce is a fresh look at the informal economy around the world and its impact on the macroeconomy. The book covers interactions between the informal economy, labor and product markets, gender equality, fiscal institutions and outcomes, social protection, and financial...

State-owned financial institutions fall into three main groups: commercial banks, hybrid banks, and development institutions. The larger state-owned commercial banks/ groups include Sberbank, the VTB Bank group, and Gazprombank. Like private commercial banks, these institutions do not have a...

Rapid advances in financial technology are transforming the economic and financial landscape, offering wide-ranging opportunities while raising potential risks. Fintech can support potential growth and poverty reduction by strengthening financial development, inclusion, and efficiency-but it may...

The Finnish financial sector has weathered during the global crisis. Banks’ capital buffers were sufficient, but liquidity and credit risks required monitoring. The study assessed that there is a need for strong crisis management framework. It is found that an evaluation of Deposit Guarantee...