The IMF’s Stand-by Arrangements and the Economic Downturn in Eastern Europe: The Cases of Hungary, Latvia, and Ukraine

Jose Cordero

CEPR Reports and Issue Briefs from Center for Economic and Policy Research (CEPR)

Abstract: This paper looks at three countries that have been hard-hit by the world economic recession, and have turned to the IMF for assistance: Hungary, Latvia, and Ukraine. In all of these countries, it would appear that there were more sensible responses to the crisis that would reduce the loss of employment and output, cuts in social services, and political instability that have resulted from the downturn. Instead, the governments’ responses to the downturn as well as IMF conditions for assistance have caused additional harm.

Keywords: IMF; Hungary; Latvia; Ukraine; fiscal policy; monetary policy (search for similar items in EconPapers)
JEL-codes: E E5 E51 E52 E6 E62 E63 F F3 F32 F33 F34 F37 O O5 O52 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2009-09
New Economics Papers: this item is included in nep-eec and nep-tra
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:epo:papers:2009-31

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