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Pan-African banks are expanding rapidly across the continent, creating cross-border networks, and having a systemic presence in the banking sectors of many Sub-Saharan African countries. These banking groups are fostering financial development and economic integration, stimulating competition and efficiency, introducing product innovation and modern management and information systems, and bringing higher skills and expertise to host countries. At the same time, the rise of pan-African banks presents new challenges for regulators and supervisors. As networks expand, new channels for transmission of macro-financial risks and spillovers across home and host countries may emerge. To ensure that the gains from cross border banking are sustained and avoid raising financial stability risks, enhanced cross-border cooperation on regulatory and supervisory oversight is needed, in particular to support effective supervision on a consolidated basis. This paper takes stock of the development of pan-African banking groups; identifies regulatory, supervisory and resolution gaps; and suggests how the IMF can help the authorities address the related challenges.
This volume provides a rounded view of financial liberalization after the collapses in East Asia.
Cameroon is a country endowed with a variety of climates and agricultural environments, numerous minerals, substantial forests, and a dynamic population. It is a country that should be a leader of Africa. Instead, we find a country almost paralyzed by corruption and poor management, a country with a low life expectancy and serious health problems, and a country from which the most talented and highly educated members of the population are emigrating in large numbers. Although Cameroon has made economic progress since independence, it has not been able to change the dependent nature of its economy. The economic situation combined with the dismal record of its political history, indicate that prospects for political stability, justice, and prosperity are dimmer than they have been for most of the country's independent existence. The fourth edition of the Historical Dictionary of the Republic of Cameroon has been updated to reflect advances in the study of Cameroon's history as well as to provide coverage of the years since the last edition. It relates the turbulent history of Cameroon through a chronology, an introductory essay, a bibliography, and over 600 cross-referenced dictionary entries on significant persons, events, places, organizations, and other aspects of Cameroon history from the earliest times to the present.
The essay advocates a theory of the musical work as a “social object” which is based on a trace informed by a normative value. Such a normativity is explored in relation to three ways of fixing the trace: orality, notation and phonography.