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Working Paper 139 - The Macroeconomic Impact of Higher Capital Ratios on African Economies
Africa escaped the recent global financial crisis relatively unscathed. While the region could not avoid the spillover effects of the ensuing global economic downturn, its banking sector proved generally resilient. This was mainly due to the structural reforms implemented over the past decade, including strengthening the relevant regulatory and supervisory systems within a sounder and more flexible macroeconomic management framework.