External Borrowing in the Baltics, Russia, and Other States of the Former Soviet Union The Transition to a Market Economy

The external debt of many countries of the Baltics, Russia, and the former Soviet Union has been growing rapidly in recent years and has played an important part in the transition process. However, it is vital to strike a balance between financing transition and ensuring that the external debt is no...

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Main Author: Odling-Smee, John C.
Other Authors: Zavoiceo, Basil B.
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1998, 1998
Series:IMF Policy Discussion Papers; Papers on Policy Analysis and Assessment
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Summary:The external debt of many countries of the Baltics, Russia, and the former Soviet Union has been growing rapidly in recent years and has played an important part in the transition process. However, it is vital to strike a balance between financing transition and ensuring that the external debt is not used to finance wasteful expenditures or delay the transition process. This is especially important since the rising stock of external debt makes the borrowing countries increasingly vulnerable to changes in perceived creditworthiness. Accordingly, countries must adopt policies, including pressing ahead with structural reforms, to ensure that the borrowing is used to promote sound growth
Physical Description:14 p.
ISBN:9781451972610
145197261X