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JSPES, Vol. 31, No. 2 (Summer 2006 )
pp. 133-142

Financial Sector Reform in Sub-Saharan Africa

Anne-Marie Guide, Catherine Pattillo

African Department, International Monetary Fund

Amongst their many other problems, development in sub-Saharan African (SSA) countries is handicapped by weak financial sectors. While banking facilities have expanded and improved in the last decade, insurance, non-bank financial intermediaries and stock markets are in general little advanced, and any shock to a major export sector in the less diversified countries could turn most of the banking loans bad. The authors discuss the situation and make practical suggestions as to how improvement could be effected.
Key Words: Sub-Saharan Africa; Poverty; Economic growth; Financial infrastructure; Microfinance.