Ghana: Financial System Stability Assessment Update

Author: International Monetary Fund. Monetary and Capital Markets Department

Volume/Issue: Volume 2011 Issue 131

Publication date: June 2011

ISBN: 9781455282579

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Topics covered in this book

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Banks and Banking , Finance , ISCR , CR , bank , asset , asset quality , liquidity , bank assets , exchange rate , credit risk , liquid asset , parent bank , venture capital , funding cost , debt market , branch network , Commercial banks , Nonperforming loans , Bank soundness , Capital adequacy requirements , Credit risk , Sub-Saharan Africa , Africa , Global

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Summary

Since the 2003 Financial Stability Assessment Program (FSAP) update, Ghana’s financial system has undergone rapid growth and structural transformation. The authorities have been implementing reforms to enhance the financial system’s resilience to shocks and its contribution to growth. The vulnerabilities reflect the interplay of several factors, but state involvement is an important element. The other contributory factors include deficiencies in commercial banks’ risk management, supervision, and the insolvency regime. Additional recommendations are detailed in the Report on the Standards and Codes on Compliance (ROSC) with the Basel Core Principles (BCP).