Governors and senior officials representing some two dozen central banks from Africa and other regions of the world met at the BIS in May 2011 to discuss the monetary policy and financial stability issues facing Africa after the global financial crisis. This volume brings together the background...

This paper begins with a brief review of Africa's financial depth, followed by an analysis of cross-border integration of banking flows. The impact on monetary policy transmission mechanisms of the integration of the African continent with the global financial system is subsequently analysed....