In February 2013 the IMF called on the Algerian authorities to take a number of measures to strengthen the financial system, including boosting banking intermediation and further tackling non-performing loans (NPLs) at public banks. The country benefits from a sizeable and liquid banking sector, but key indicators for activity and usage remain...
Against the backdrop of a large government homebuilding programme, state banks are stepping up the role they play in housing and real estate finance. Outside of the public housing segment, cheap long-term mortgages are available, in particular from public banks, though retail mortgages are dwarfed by state spending on housing and supply remains an...
The “Golden Land”, officially known as the Republic of the Union of Myanmar and formerly as Burma, has undergone dramatic reforms in recent years under the administration of President U Thein Sein. The rapid transition from a military junta to an open economy has surprised the global community and will see Myanmar assume the ASEAN chair for the first time in 2014.
What type of new risks is Myanmar’s economy facing during its current transition period? How have these risks been managed?
For the first time in 60 years, Myanmar has permitted private insurance companies to compete with the state monopoly, granting 12 licences in June 2013 to local companies as part of a wider set of reforms aimed at making the financial system more market-driven. But Myanma Insurance, the country’s insurance monopoly, will continue to remain the...
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