IMF paper examines financial intermediation costs in low-income countries

IMF headquarters in Washington DC

A working paper published by the International Monetary Fund in May studies the causes of high financial intermediation costs in low-income countries.

The author, Tigran Poghosyan, examines the difference between lending and deposit rates as a proxy for financial intermediation costs. The research finds that costs are highly sensitive to competition within the market and the institutional setting. Furthermore, bank-specific factors that raise costs include higher riskiness of the portfolio

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