The Eurasian Fund for Stabilization and Development : A Regional Financing Arrangement and Its Place in the Global Financial Safety Net

The objective of the first working paper is to bridge the gap in understanding the dynamics of EFSD development and its place in the Global Financial Safety Net (GFSN) and the region’s financial architecture. The GFSN is the set of financial resources and institutional arrangements that provide a backstop during a financial or economic crisis. It comprises international reserves, central bank bilateral swap arrangements, regional financing arrangements (RFAs), and the IMF