Macroeconomic Developments in the Baltics, Russia, and Other Countries of the Former Soviet Union, 1992-97

Luis Valdivieso

No 1999/001, IMF Occasional Papers from International Monetary Fund

Abstract: This paper discusses the significant overall progress with macro stabilization of these transition countries during 1992-1997. While average inflation declined steadily since 1992, output fell significantly for many of these countries during this period, and it was not unti 1996-97 that as a group they experienced positive growth, financial policies, the current account, competitiveness, debt-and non-debt-creating capital flows, and the initial impact of the Asian crisis.

Keywords: OP; reformer; deficit; SBA III; exchange market pressure; intermediate reformer; IMF staff estimate; IMF support; adjustment program; treasury bill market; Real exchange rates; Currency markets; Debt burden; International capital markets; Baltics (search for similar items in EconPapers)
Pages: 35
Date: 1999-01-06
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