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Regulatory Forbearance: An Emergency Medicine, Not Staple Diet! 209
Table 2: NPA ratio of countries and when that peaked after the Global Financial Crisis
Early Resolvers (2009-2010) Late Resolvers (2015-2019)
Peak NPA as % of assets Peak NPA as % of assets
Brazil 4.21 Argentina 5.75
Canada 1.27 China 2.40
Germany 3.31 India 9.98
Indonesia 3.29 Italy 18.06
Saudi Arabia 3.29 Portugal 17.48
South Africa 5.94 Russia 10.12
United States 4.96 Turkey 5.02
Australia 2.15
South Korea 0.59
Average 3.22 Average 9.83
Source: IMF
Figure 9: NPA trends for “Early Resolvers”
Source: IMF Financial Soundness Indicators
Figure 10: NPA trends for “Late Resolvers”
Source: IMF Financial Soundness Indicators
