South Africa: Financial Sector Assessment Program-Financial System Stability Assessment

International Monetary Fund

No 2022/039, IMF Staff Country Reports from International Monetary Fund

Abstract: The economy recovered strongly in 2021, following an unprecedented real output contraction in 2020. However, the outlook remains precarious amidst projected future low growth, high unemployment and adverse debt dynamics, and the recovery pace is unlikely to be sustained. Ample buffers allowed the financial system to handle the COVID-19 shock relatively well, but domestic and external downside risks remain substantial—with potential implications for asset quality, profitability, and solvency.

Keywords: B. bank solvency stress tests; IMF mission chief; foster market entry; increase capital market financing; coverage ratio; financial system structure; FSAP finding; D. nonbank risk analysis; Financial Sector Assessment Program; Stress testing; Insurance companies; COVID-19; Africa; Global (search for similar items in EconPapers)
Pages: 64
Date: 2022-02-11
New Economics Papers: this item is included in nep-fdg
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