Despite its diversified economy, Bahrain has nonetheless faced pressures in recent years as a result of the 2014-15 drop in global oil prices. However, a multibillion-dollar aid package from other Gulf states and an accompanying fiscal adjustment plan, as well as growth following a partial oil price recovery and a major oil and gas discovery, offer hope for an economic turnaround in 2019.
UEMOA member states’ budget execution in 2017 resulted in an aggravation of budget deficits in comparison to 2016, in conjunction with increases in investment and current expenditure. In this context the UEMOA states have resorted to sovereign debt emissions to cover their resource needs. The outstanding amount of their West African CFA franc...
The period of easily raising funds from abroad seems to be coming to an end for emerging markets around the world. In the new environment of higher interest rates in the US and increased competition for capital flows, portfolio managers are becoming more selective with where they place their money.
How have banks and the regional stock market responded to the tightened capital requirements?
The UEMOA banking system, which has experienced accelerated development over the last five years with average annual growth of 13% of the total sector balance sheet, has remained globally stable and profitable. Nonetheless, there are still pockets of vulnerability. Indeed, some banks are still undercapitalised and several small banks still do...
The much-anticipated third board of the Bourse Régionale des Valeurs Mobilières (BRVM) that is dedicated to small and medium-sized enterprises (SMEs) was launched in 2017. With this new compartment the aim is to provide smaller companies – which account for around 80% of the economic structure of the UEMOA – access to long-term financial...
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