Contents include: Real sector developments: output trends; sectoral developments; and income, wages, and prices. Public finances; fiscal balance; revenue developments; expenditure developments; social safety net. Financial sector developments; monetary and exchange rate developments; the use of...

This paper discusses key findings of the Financial System Stability Assessment (FSSA) on Moldova. The assessment reveals that vulnerabilities of the financial sector appear to be manageable. Stress tests on likely scenarios do not indicate major vulnerabilities for the banking system as a whole....

The study focuses on corrective fiscal policies for 2000, the budgets for 2001, and the agenda for structural reform. An important issue discussed in revising the 2000 budgets was the expenditure policy required to contain spending commitments within available resources. The authorities have...

In just over a decade after independence, the three Baltic countries, Estonia, Latvia, and Lithuania, have transformed themselves into fully functioning, small open-market economies that will be joining the European Union. Capital Markets and Financial Intermediation in The Baltics analyzes the...

This paper takes stock of the current state of development of the financial systems in five Central European transition economies (the Czech Republic, Hungary, Poland, the Slovak Republic, and Slovenia) that are also leading EU accession candidates. It presents both a progress report and an...

This paper discusses key findings of the Ex Post Assessment of Longer-Term Program Engagement for Mongolia. The paper assesses Mongolia’s progress in implementing its transition to a market economy, economic stabilization, and reform programs supported by the IMF during 1991–2004,...

This paper analyzes the Czechoslovak reform program which was launched on January 1, 1991. Under this program, Czechoslovakia has taken decisive steps to establish a market economy, while achieving price stability and a viable external position through restrictive financial policies. But there...

This paper investigates the relationship between ownership concentration and enterprise performance in Ukraine. Using data on 376 medium and large enterprises, it finds that ownership concentration is positively associated with enterprise performance in Ukraine. The paper also finds that...