During the pandemic, African banks rebalanced their portfolio towards sovereign assets, and crowding out of credit to private sector intensified. Policy support, however, averted a credit crunch. The increase in public debt across Africa due to the COVID-19 crisis intensified crowding out of...

The purpose of this paper is to highlight some issues and proffer solutions that can make sustainable finance become sustainable. One, there should be greater focus on how some aspects of finance can contribute to sustainability. Two, light-touch regulation may be needed to grow the relatively...

This discussion paper is the third in the Financial Markets Department's series on the structure of Canadian financial markets. These papers are called "ecologies" because they study the interactions among market participants, infrastructures, regulations and the terms of the traded contract...