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OverviewExternal shocks since 2014 – lower oil prices and slower growth in key trading partners – have put financial sectors, mainly banks, in the eight Caucasus and Central Asia (CCA) countries under increased stress. Even before the shocks, CCA banking sectors were not at full strength. Asset quality was generally weak, due in part to shortcomings in regulation, supervision, and governance. The economies were highly dollarized. Business practices were affected by lack of competition and, in most countries, connected lending, which undermined banking sector health. Shortcomings in financial regulation and supervision allowed the unsound banking practices to remain unaddressed. The external shocks exacerbated in these underlying vulnerabilities. Strains in CCA banking sectors intensified as liquidity tightened, asset quality deteriorated, and banks became undercapitalized. These challenges have required public intervention in some cases. Full Product DetailsAuthor: Mercedes Vera Martin , International Monetary Fund: Research Department , Robert Tchaidze , Juan P. TrevinoPublisher: International Monetary Fund (IMF) Imprint: International Monetary Fund (IMF) Volume: No. 18/08 ISBN: 9781484360774ISBN 10: 148436077 Pages: 47 Publication Date: 30 October 2020 Audience: Professional and scholarly , Professional & Vocational Format: Paperback Publisher's Status: Active Availability: Not yet available  This item is yet to be released. You can pre-order this item and we will dispatch it to you upon its release. Table of ContentsReviewsAuthor InformationTab Content 6Author Website:Countries AvailableAll regions |
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