John. J. McCloy, President of the International Bank for Reconstruction and Development, discussed the U.S. announcement of the European Recovery Program (Marshall Plan). This ambitious plan must be economically successful. The inherent strengths of Europe give reasonable assurance of the...

The Europe and Central Asia (ECA) Education Team's vision is for education systems to empower all to reach their full potential. In line with this vision, the purpose of this guidance note is to provide recommendations and policy advice for decision-makers on potential education responses to the...

Countries around the world are facing the need to build effective, accountable, and inclusive institutions. There has never been a more important moment to tackle this agenda, as countries grapple with increasing fragility and migration flows, more complex service delivery requirements, 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...