The climate is changing; and the Europe and Central Asia (ECA) region is vulnerable to the consequences. Many of the region's countries are facing warmer temperatures, a changing hydrology and more extremes, droughts, floods, heat waves, windstorms, and forest fires. Already the frequency and...

The global financial crisis severely affected economies in Eastern Europe and Central Asia (ECA). Currencies depreciated across the region. Government tax revenues declined sharply leading to high budget deficits and rising levels of public debt. Tightening credit supply and deteriorating...

The purpose of this paper is to illustrate the channels through which rising commodity prices might affect countries in the Europe and Central Asia Region (ECA) in the short run and to indicate which countries are most likely to be significantly affected. This paper discusses the effects of the...

This diagnostic study exclusively covers consumer protection and financial literacy issues in the banking sector of Bosnia and Herzegovina (BiH). Household credit in BiH more than tripled in volume in 2003-2008, and in terms of GDP it expanded from 13 to 26 percent. Foreign currency loans...

When a disaster strikes, it not only affects households' physical assets, but also their income levels and ability to contribute to the local economy. Critically, these socio-economic disparities shape not only the severity of shocks on household-level economies, but also the duration of...

This companion piece to the Fall 2022 ECA Economic Update provides an overview of the policy options available to countries to respond to the energy price shock and examines how this crisis could harness the clean energy transition to enhance collective energy security. The options to support...

This report highlights deficiencies and indicates priorities for a prospective national transport strategy and action plan for further consideration by key stakeholders. The overall objective should be the development of a transport system, and an institutional framework, that facilitates rather...