{"id":17925,"date":"2023-08-26T19:53:23","date_gmt":"2023-08-26T19:53:23","guid":{"rendered":"https:\/\/www.africa-press.net\/madagascar\/politique\/finances-les-banques-primaires-avides-de-liquidites"},"modified":"2023-08-26T21:59:06","modified_gmt":"2023-08-26T21:59:06","slug":"finances-les-banques-primaires-avides-de-liquidites","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/madagascar\/economie\/finances-les-banques-primaires-avides-de-liquidites","title":{"rendered":"FINANCES \u2013 Les Banques primaires avides de liquidit\u00e9s"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Madagascar. <\/strong><\/span><b>Les besoins en liquidite\u0301 sont en hausse aupre\u0300s des banques commerciales. Ils ont entrai\u0302ne\u0301 la fluctuation du volume de liquidite\u0301 sur le marche\u0301.<\/b><\/p>\n<p>Le recours aux emprunts gagne en ampleur. Selon les derniers chiffres disponibles, la densite\u0301 emprunte\u0301e par les banques commerciales aupre\u0300s de la \u00abBanky foiben\u2019i Madaga\u00adsikara\u00bb, BFM, a\u0300 travers les Facilite\u0301s de pre\u0302t marginal, FPM, a bien gonfle\u0301 . Elle a atteint 7 475,9 milliards d\u2019ariary au premier trimestre de cette anne\u0301e contre 3 023,9 milliards d\u2019ariary au dernier trimestre de 2022. Les banques commerciales ont continue\u0301 de recourir a\u0300 cet instrument, \u00ab vraisemblablement en raison du niveau e\u0301leve\u0301 du de\u0301ficit de liquidite\u0301s pour certaines d\u2019entre elles \u00bb, e\u0301value la BFM dans le dernier bulletin qu\u2019elle a publie\u0301. Celle-ci e\u0301voque, a contrario, \u00ab une hausse des injections de liquidite\u0301s hebdomadaires re\u0301alise\u0301es par la BFM \u00bb, dans le me\u0302me bulletin. Les banques primaires ont, par contre, moins re\u00adcouru aux Facilite\u0301s de de\u0301po\u0302t, FDD. Le recours a\u0300 cet instrument de placement a diminue\u0301 au premier trimestre de 2023, par rapport au dernier trimestre de 2022. D\u2019apre\u0300s la BFM, \u00ab le volume total place\u0301 par les banques, qui e\u0301tait de 3 666,6 milliards d\u2019ariary durant les trois derniers mois de l\u2019anne\u0301e dernie\u0300re, a baisse\u0301 a\u0300 2 242,5 milliards d\u2019ariary durant les trois premiers mois de cette anne\u0301e \u00bb. La Banque centrale re\u0301ve\u0300le \u00ab que les banques utilisent dans la plupart des cas le FDD a\u0300 la fin de chaque pe\u0301riode afin d\u2019optimiser leurs ressources \u00bb. La Banque centrale affirme pourtant e\u0302tre intervenue sur le marche\u0301 mone\u0301taire pour combler le de\u0301ficit de tre\u0301sorerie dans le syste\u0300me bancaire. Le volume injecte\u0301 a\u0300 travers les Ope\u0301rations principales d\u2019injection, OPI, a e\u0301te\u0301 de 10 783,9 milliards d\u2019ariary au premier trimestre de 2023, contre 8 082,4 milliards d\u2019ariary au dernier trimestre de 2022, pre\u0301cise l\u2019autorite\u0301 mone\u0301taire. Le montant d\u2019injection hebdomadaire a e\u0301te\u0301 compris entre un minimum de 580 milliards d\u2019ariary et un maximum de 1 154,9 milliards d\u2019ariary au cours de la pe\u0301riode sous revue, mettant en e\u0301vidence une certaine fluctuation dans le volume de liquidite\u0301 offert sur le marche\u0301, admet-elle.<\/p>\n<p><b>Recommandations <\/b><\/p>\n<p>La Banque centrale explique cette volatilite\u0301 \u00ab par la strate\u0301gie du cadre ope\u0301rationnel poursuivie par BFM. Cette strate\u0301gie consiste a\u0300 atteindre l\u2019objectif de taux correspondant au milieu du corridor des taux d\u2019inte\u0301re\u0302t par le taux moyen ponde\u0301re\u0301 des adjudications, dans une pe\u0301riode de constitution des Re\u0301serves obligatoires\u201d. Sous les recommandations du Fonds mone\u0301taire international, FMI, afin de comprimer la pression inflationniste, la BFM a pris la de\u0301cision de relever depuis la semaine dernie\u0300re a\u0300 9% le taux des facilite\u0301s de de\u0301po\u0302t, qui e\u0301tait a\u0300 8,5% au mois de mai. Le taux des facilite\u0301s de pre\u0302t marginal passe e\u0301galement de 10,5 a\u0300 11%, a\u0300 l\u2019issue de la re\u0301union de son Comite\u0301 mone\u0301taire, dans le cadre de la revue trimestrielle de la politique mone\u0301taire La Banque centrale a motive\u0301 son acte par le fait que \u00ab de nouvelles interventions se sont impose\u0301es pour mieux stabiliser l\u2019ariary et pour contenir davantage l\u2019inflation qui demeure e\u0301leve\u0301e\u201d. Elle a aussi soutenu que les de\u0301se\u0301quilibres sur les marche\u0301s domestiques des biens et services, ainsi que sur le marche\u0301 des devises, requie\u0300rent que la demande globale s\u2019ajuste a\u0300 l\u2019offre . Il reste a\u0300 prouver l\u2019efficacite\u0301 d\u2019une telle de\u0301marche pour baisser les prix a\u0300 la consommation.<\/p>\n<p><strong>Pour plus d&rsquo;informations et d&rsquo;analyses sur la <a href=\"https:\/\/www.africa-press.net\/madagascar\">Madagascar<\/a>, suivez <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Madagascar. Les besoins en liquidite\u0301 sont en hausse aupre\u0300s des banques commerciales. Ils ont entrai\u0302ne\u0301 la fluctuation du volume de liquidite\u0301 sur le marche\u0301. Le recours aux emprunts gagne en ampleur. Selon les derniers chiffres disponibles, la densite\u0301 emprunte\u0301e par les banques commerciales aupre\u0300s de la \u00abBanky foiben\u2019i Madaga\u00adsikara\u00bb, BFM, a\u0300 travers les [&hellip;]<\/p>\n","protected":false},"author":82,"featured_media":17924,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,10],"tags":[36,50,49],"class_list":["post-17925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economie","category-toutes-les-actualites","tag-africa-press","tag-africa-press-madagascar","tag-madagascar"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>FINANCES \u2013 Les Banques primaires avides de liquidit\u00e9s - Madagascar<\/title>\n<meta name=\"description\" content=\"Les besoins en liquidite\u0301 sont en hausse aupre\u0300s des banques commerciales. 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