Banking financial intermediation relative to the economy is low and declining. The depthof the Romanian banking sector is lagging both in terms of deposit and loan penetration. Cross-cutting factors such as poverty, rurality and informality form a set of constraints that still persist affecting...

This report focuses on the Beninese financial sector by identifying the scope and penetration of specific activities such as banking, microfinance, retail payments, and agriculture finance and the challenges of effectively regulating and supervising such activities, with recommendations aimed at...

This technical note reviews the cooperative bank and credit union sectors. It focuses on: (i) thesituation of the two sectors that are both in states of transition; (ii) the regulatory and supervisory arrangements; and (iii) the safety net and resolution regime within the context of the crisis...

Ghana's real gross domestic product (GDP) expanded in 2018, albeit at a slower rate than in 2017; the expansion was spurred by the mineral component of the industry sector. The government sustained its fiscal consolidation efforts in 2018 despite challenges. The current account deficit narrowed...

A joint World Bank-IMF Financial Sector Assessment Program (FSAP) mission visited Poland from January 8-19, 2018 and May 7-18, 2018. This report summarizes the main findings of the mission, identifies key financial sector vulnerabilities and development opportunities, and provides policy...

As a key pillar of the Ugandan economy, the agriculture sector is a critical driver of economic growth and poverty alleviation. Uganda's agricultural sector is dominated by smallholders with low levels of productivity. The agriculture sector is highly exposed to co-variant risks, which include...

A joint IMF-World Bank mission visited Thailand from November 1 to 16, 2018, and February 6 to 22, 2019, to update the findings of the Financial Sector Assessment Program (FSAP) conducted in 2008. This report summarizes the main findings of the mission, identifies key financial sector...

While Thailand's pension system is typically described as a multipillar pension scheme, its design is highly fragmented and offers adequate coverage only to a small segment of the population, including civil servants and high-income individuals. In its 2018 Article IV report, the IMF highlighted...

The report aims to explore and analyze the major gaps in financial inclusion and access to finance in Romania, as identified in the Technical Note on Financial Intermediation prepared in the context of the Financial Sector Assessment Program (FSAP) (2018). The FSAP technical note analyzed the...