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Republic of Equatorial Guinea

Selected Issues

Republic of Equatorial Guinea by International Monetary Fund. African Dept.
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This Selected Issues paper analyzes macrofinancial linkages in Equatorial Guinea. Insufficient fiscal consolidation in response to falling oil prices and production has translated into arrears accumulation, leading to a sharp deterioration in commercial banks’ balance sheets. Although banks’ capital and liquidity ratio appear adequate, profitability has been shrinking, owing to weak economic activity and decelerating credit supply. Moreover, recent stress tests reveal a high sensitivity to negative liquidity and asset quality shocks. Financial development remains lackluster, which hurts economic development and effective structural transformation. Finally, strong macrofinancial linkages compounded by regional subsidiary-parent interlinkages call for increased scrutiny.
International Monetary Fund; November 2016
20 pages; ISBN 9781475555998
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Title: Republic of Equatorial Guinea
Author: International Monetary Fund. African Dept.