Republic of Madagascar [electronic resource] : Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, and Anti-Money Laundering.
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TextSeries: IMF Staff Country Reports, Country Report ; No. 06/305Publication details: Washington, D.C. : International Monetary Fund, 2006Description: 1 online resource (39 p.)ISBN: 1451825390 :ISSN: 1934-7685Subject(s): Anti-Money Laundering | Bank Supervision | Central Banks | Financial Soundness Indicators | Financial System Stability Assessment | Reports on the Observance of Standards and CodesAdditional physical formats: Print Version:: Republic of Madagascar : Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, and Anti-Money LaunderingOnline resources: IMF e-Library | IMF Book Store Abstract: The insurance sector is underdeveloped and has been inadequately supervised to date, as the regulator lacks the requisite independence, skills, and resources. The three public pension systems, which cover less than 10 percent of the active population, appear to be fiscally unsustainable. The banking regulatory and supervisory framework is broadly adequate, although implementation and enforcement need further strengthening. The weak financial position of the Central Bank of Madagascar (BCM) could undermine macroeconomic and financial policies and contribute to economic and financial instability.
The insurance sector is underdeveloped and has been inadequately supervised to date, as the regulator lacks the requisite independence, skills, and resources. The three public pension systems, which cover less than 10 percent of the active population, appear to be fiscally unsustainable. The banking regulatory and supervisory framework is broadly adequate, although implementation and enforcement need further strengthening. The weak financial position of the Central Bank of Madagascar (BCM) could undermine macroeconomic and financial policies and contribute to economic and financial instability.
Description based on print version record.
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