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Financial Sector Assessment : FijiThe financial sector in Fiji is
 generally sound but has concentrated too heavily on domestic
 exposures producing a lack of risk diversification. This
 concentration is an increasing vulnerability, as foreign
 currency earnings become more dependent on tourism and
 remittances from workers overseas. Fiji has a financially
 strong and highly profitable banking sector, good
 supervision and laws, and a high degree of long-term
 contractual savings through the insurance and pension
 sectors. The major distortion arises, however, from the Fiji
 National Provident Fund (FNPF), which itself accounts for
 about 40 percent of financial system assets. This paper
 takes a close look at Fiji's financial sector as it
 relates to the following: macroeconomic environment and
 risk; monetary policy, the financial sector stability and
 performance of the banking, insurance and Provident national
 fund; the regulatory framework; access to finance; payment
 systems; and anti laundering and terrorism. The paper also
 gives and overall assessment and key recommendations.
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Global Development Finance 2010 : External Debt of Developing CountriesThe World Bank's Debtor Reporting System (DRS), from which the aggregates and country tables presented in this report are drawn, was established in 1951. The debt crisis of the 1980s brought increased attention to debt statistics and to the world debt tables, the predecessor to global development finance. Now the global financial crisis has once again heightened awareness in developing countries of the importance of managing their external obligations. Central to this process is the measurement and monitoring of external debt stocks and flows in a coordinated and comprehensive way. The initial objective of the DRS was to support the World Bank's assessment of the creditworthiness of its borrowers. But it has grown as a tool to inform developing countries and the international community of trends in external financing and as a standard for the concepts and definitions on which countries can base their own debt management systems. Over the years the external financing options available to developing countries have evolved and expanded, and so too has the demand for timely and relevant data to measure the activity of public and private sector borrowers and creditors. Recurrent debt crises caused by adverse global economic conditions or poor economic management have demanded solutions, including debt restructuring and, in the case of the poorest, most highly indebted countries, outright debt forgiveness, formulated on the basis of detailed and robust information on external obligations. Steps are continuously being taken to ensure that the data captured by the DRS mirrors these developments and responds to the needs of debt managers and analysts. In this context reporting requirements are periodically amended to reflect changes in borrowing patterns. Many developing countries increasingly rely on financing raised in domestic markets, and so we are exploring ways to expand the coverage of public sector borrowing in domestic markets.
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Global Development Finance 2007 : The Globalization of Corporate Finance in Developing Countries, Volume 1. Review, Analysis, and OutlookThe globalization of corporate finance also points to other challenges. As emerging-market corporations have expanded their international operations, they have increased their exposure to interest rate and currency risks. Concerns are growing that several countries in emerging Europe and Central Asia are experiencing a credit boom engendered by cross-border borrowing by banks of untested financial health and stamina. Some of these banks have increased their foreign exchange exposure to worrisome levels, a concern that warrants special attention from national policymakers. Given banks' critical role in domestic monetary systems, policymakers should step up their regulation of foreign borrowing by banks. The projected slowdown in global growth and tighter monetary policy in high-income countries are expected to make financing conditions for developing countries somewhat less favorable in coming years. While a soft landing is the most likely outcome, there are risks. Global development finance is the World Bank's annual review of global financial conditions facing developing countries. The current volume provides analysis of key trends and prospects, including coverage of capital raised by developing country based corporations.