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04931-9781452795188.Pdf © 2007 International Monetary Fund January 2007 IMF Country Report No. 07/14 Niger: Selected Issues and Statistical Appendix This Selected Issues paper and Statistical Appendix for Niger was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on December 6, 2006. The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of Niger or the Executive Board of the IMF. The policy of publication of staff reports and other documents by the IMF allows for the deletion of market-sensitive information. To assist the IMF in evaluating the publication policy, reader comments are invited and may be sent by e-mail to [email protected]. Copies of this report are available to the public from International Monetary Fund Ɣ Publication Services 700 19th Street, N.W. Ɣ Washington, D.C. 20431 Telephone: (202) 623 7430 Ɣ Telefax: (202) 623 7201 E-mail: [email protected]Ɣ Internet: http://www.imf.org Price: $18.00 a copy International Monetary Fund Washington, D.C. ©International Monetary Fund. Not for Redistribution This page intentionally left blank ©International Monetary Fund. Not for Redistribution INTERNATIONAL MONETARY FUND NIGER Selected Issues and Statistical Appendix Prepared by Mr. Sacerdoti (head-AFR), Mr. Farah, Mr. Fontaine, and Mr. Laporte (all AFR) Approved by African Department December 6, 2006 Contents Page I. Financial Sector Developments..............................................................................................4 A. Overview of the Financial Sector..............................................................................4 B. Recent Banking Developments.................................................................................5 C. Financial Sector Reforms........................................................................................12 D. The Microfinance Sector in Niger..........................................................................15 E. Recent Trends in Key Microfinance Indicators.......................................................17 F. Conclusion...............................................................................................................22 II. Sources of Economic Growth in Niger...............................................................................25 A. Introduction.............................................................................................................25 B. Historical Overview................................................................................................25 C. Growth Accounting.................................................................................................27 D. Factors Behind Niger's Weak TFP.........................................................................29 E. Agricultural Sector Performance.............................................................................31 F. Conclusion...............................................................................................................32 Figures 1. Growth in Number of Bank Branches, 2000-06............................................................6 2. Distribution of Credit by Economic Activity, 2005.......................................................8 3. Distribution of Bank Credit by Maturity, 2001-05........................................................9 4. Nonperforming Loans of Banks and Financial Establishments (Niger versus Rest of WAEMU), 2000-05..............................................................10 5. Structure of Interest Rates, 2000-05............................................................................12 6. Number of Licensed Microfinance Institutions, 1996-05............................................15 7. Indicators of Financial Intermediation of MFIs...........................................................19 ©International Monetary Fund. Not for Redistribution 2 8. Nonperforming Loans of Nigerien Microfinance Institutions, 2000-04................................................................................................20 Text Tables 1. Total Assets of the Financial System, 2005...................................................................5 2. Distribution of Ownership of Commercial Banks and Specialized Financial Institutions..................................................................................................................7 3. Concentration Ratio of Banks, 2001-05.........................................................................7 4. Summary Balance Sheet of Banks and Specialized Financial Institutions, 2001-05..................................................................................................9 5. Key Indicators of Financial Deepening, 2000-2005....................................................10 6. Selected Financial Indicators of WAEMU Countries, 2005........................................10 7. Selected Indicators of Compliance with WAEMU Prudential Norms, 2003-2005.....11 8. Bank Profitability, 2001-2005.....................................................................................10 9. Selected Indicators of Microfinance Institutions, 2000-2005......................................18 10. Penetration Ratio of Microfinance Institutions in WAEMU, 2000.............................19 11. Selected Financial Indicators of Microfinance, Institutions in WAEMU Countries, 2005........................................................................................................19 12. Determinants of the Growth Rate of Real GDP per Capita, 1967-2003......................33 Statistical Appendix Tables Basic Data................................................................................................................................35 1. Gross Domestic Product at Constant 1987 Prices, 1998-2005....................................39 2. Gross Domestic Product by Sector of Origin at Constant 1987 Prices, 1998-2005....40 3. Gross Domestic Product by Sector at Current Market Prices, 1998-2005..................41 4. Gross Domestic Product of the Modern Sector at Current Market Prices, 1998-2005....................................................................................................42 5. Gross Domestic Product of the Traditional Sector at Current Market Prices, 1998-2005........................................................................................43 6. Supply and Use of Resources at Current Market Prices, 1998-2005...........................44 7. Production, Marketing, and Exports of Agricultural Products, 1997/98-2004/05.......45 8. Area Under Cultivation and Yield of Principal Crops, 1997/98-2004/05...................46 9. Cereal Production, Imports, and Consumption, 1998-20052005................................47 10. Size and Value of the Herd, 1998-2005.......................................................................48 11. Production and Exports of the Uranium Sector, 1998-2005........................................49 12. Turnover, Output and Value-Added (VA) by the Industrial Sector, 2000-2005.........50 13. Production Capacity and Output of the Industrial Sector, 1998-2005.........................51 14. Production, Imports, Sales, and Prices of Electricity, 1998-2005...............................52 15. Prices of Petroleum Products in Niamey, 1998-2005..................................................53 16. Consumption of Petroleum Products, 1998-2005........................................................54 17. Indices of Consumer Prices in Niamey, 2003-2005....................................................55 18. Financial Operations of the Central Government, 1998-2005.....................................56 19. Contribution of the Uranium and Gold Sectors to Budgetary Receipts, 1998-2005...57 20. Functional Classification of Budgetary Expenditure, 1998-2005................................58 ©International Monetary Fund. Not for Redistribution 3 21. Monetary Survey, 1998-2005......................................................................................59 22. Net Foreign Assets, 1998-2005....................................................................................60 23. Banking System Claims on the Government, 1998-2005............................................61 24. Summary Accounts of the Central Bank, 1998-2005 25. Summary Accounts of the Commercial Banks, 1998-2005 26. Distribution of Credit to the Public and Private Sectors, 1998-2005 (In millions of CFA Francs).....................................................................................64 27. Distribution of Credit to the Public and Private Sectors, 1998-2005 (In percent)...............................................................................................................65 28. Rediscount Rates Applied by the Central Bank, 1989-2003.......................................66 29. Lending Rates Applied by Commercial Banks, 1998-1993........................................67 30. Deposit Rates Applied by Commercial Banks, 1998-2005.........................................68 31. Interest Rates on the Money Market, 1998-2005.........................................................69 32. Balance of Payments, 1998-2005................................................................................70 33. Composition of Exports, 2000-2005............................................................................71
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