How do emerging market corporates fare during periods of currency depreciation? We find that non-financial firms that exploit favorable global financing conditions to issue US dollar bonds and build cash balances are also those whose share price is most vulnerable to local currency depreciation....

Central banks in Africa are changing as the continent becomes increasingly integrated with the global financial system. This paper summarises the four important challenges that were analysed at meeting on the topic held at the BIS in Basel on 11-12 May 2013, namely (i) pan-African banking, (ii)...

Central banks in Africa are changing as the continent becomes increasingly integrated with the global financial system. In this context, governors from major central banks met in Basel on 11-12 May 2013 to compare notes on their experiences in dealing with the challenges of increased financial...