This Selected Issues paper assesses the Central Bank of Armenia's (CBA) monetary policy framework. It discusses the CBA's track record with inflation targeting; describes the risk-based approach to price stability, offering insights on its potential benefits, while cautioning of likely pitfalls...

This paper discusses findings of the Financial System Stability Assessment for South Africa. South Africa's financial sector operates in a challenging economic environment. Despite remarkable progress since the end of apartheid in 1994, South Africa still has one of the world's highest...

Cover -- CONTENTS -- GLOSSARY -- A -- B -- C -- D -- E -- F -- G -- I -- J -- K -- L -- M -- N -- O -- P -- R -- S -- T -- EXECUTIVE SUMMARY -- INTRODUCTION -- INFORMATION AND METHODOLOGY USED FOR ASSESSMENT -- INSTITUTIONAL AND MARKET STRUCTURE-OVERVIEW -- A. Regulatory Structure -- B. Market...

Cover -- CONTENTS -- GLOSSARY -- A -- B -- C -- D -- E -- F -- I -- J -- K -- M -- N -- O -- P -- R -- S -- T -- U -- V -- W -- EXECUTIVE SUMMARY -- ASSESSMENT OF INSURANCE CORE PRINCIPLES -- A. Introduction and Scope -- B. Information and Methodology Used for Assessment -- C....

Cover -- Contents -- Glossary -- A -- B -- C -- E -- F -- G -- I -- J -- K -- L -- M -- N -- O -- P -- Q -- R -- S -- V -- Z -- INTRODUCTION -- BACKGROUND INFORMATION AND METHODOLOGY -- INSTITUTIONAL AND MARKET STRUCTURE-OVERVIEW -- A. Institutional Framework for Regulation and Supervision -- B....

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

The COVID-19 outbreak is leading to a sharp economic contraction and creating significant financing needs in South Africa. The IMF approved US$4.3 billion in emergency financial assistance under the Rapid Financing Instrument (RFI) to support the authorities' efforts in addressing the...

This technical assistant report on South Africa focuses on monetary and financial statistics (duty station-based) mission. The mission developed bridge tables from the source data of money market funds (MMFs), the Land Bank, and Ithala SOC to 2SR. The mission estimated that reclassifying the...

This Selected Issues paper explores the link between social grants and employment in South Africa. Social grants have played an important role in alleviating poverty and inequality in South Africa. The literature has analyzed the link between social grants, means-tested and unconditional on...

This 2023 Article IV Consultation highlights that South Africa's economy is facing mounting economic and social challenges. Growth moderated from 4.9 percent in 2021 to 2.0 percent in 2022 as the country was buffeted by Russia's war in Ukraine, global monetary policy tightening, severe floods,...