Despite their increasing fiscal burden, the public pension systems of BRO countries are failing to provide adequate social protection. Although there is a broad consensus about the need for pension reforms, BRO countries are debating whether to embark on systemic reforms or whether to correct...

A higher degree of de jure autonomy and accountability of the central banks of the Baltic states, Russia, and other countries of the former Soviet Union appears to be positively correlated with lower average inflation. There also seems to be some positive correlation between greater central bank...

This papers reviews the common challenges and key issues in the transition process, including the decline in output and determinants of future growth; the behavior of inflation and velocity and implications for stabilization policy; interenterprise arrears; fixed versus flexible exchange rates...

This paper provides an overview of the recent revenue performance in the Baltics, Russia, and other countries of the former Soviet Union, and a survey of these countries' efforts to modify tax policy in line with the needs of increasingly market-oriented economies and to increase the...

Large current account imbalances have been recorded in the Baltics, Russia, and other countries of the former Soviet Union since their independence. Are these current account positions sustainable, reflecting the special circumstances of transition, or are the positions untenable over the longer...

This paper reviews the extent to which the Fund’s trade policy advice to the Baltic countries, Russia and other countries of the Former Soviet Union has been implemented. It broadly traces the evolution of trade policies, emphasizing the period from mid-1993 through end-1995, attempting to...