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Titre :
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Reserve Requirementson Foreign Currency Deposits in Sub-Saharan Africa : Main Features and Policy Implications
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Titre de série :
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Working Paper, 65
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Auteurs :
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Arto Kovanen
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Type de document :
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document électronique
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Editeur :
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[S.l.] : International Monetary Fund, 2002
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ISBN/ISSN/EAN :
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978-1-4518-4869-4
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Résumé :
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This paper reviews the reserve requirement arrangements of sub-Saharan Africa, focusing on the differences between reserve requirements on domestic- and foreign-currency deposits. The reserve requirement systems in sub-Saharan Africa are relatively simple and transparent, but in some countries high unremunerated reserve ratios impose a significant implicit tax on the banks. The currency denomination of the foreign-currency reserve deposits raises concern in countries undergoing large macroeconomic changes or experiencing exchange rate volatility.
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