Press Release: IMF, World Bank, EBRD and AsDB Release Report on CIS-7 Initiative
April 26, 2004

Report on Progress Under the CIS-7 Initiative
Prepared jointly by the IMF, World Bank, EBRD, and Asian Development Bank
April 7, 2003

Armenia, Georgia, Kyrgyz Republic, Moldova, and Tajikistan: External Debt and Fiscal Sustainability
Prepared jointly by the IMF and the World Bank
February 6, 2001

Republic of Armenia and the IMF

Azerbaijan Republic and the IMF

Georgia and the IMF

Kyrgyz Republic and the IMF

Republic of Moldova and the IMF

Republic of Tajikistan and the IMF

Republic of Uzbekistan and the IMF

Recent Policies and Performance of the Low-Income CIS Countries
An Update of the CIS-7 Initiative

Prepared jointly by the Europe and Central Asia Region of the World Bank and the Middle East and Central Asia Department of the IMF
(In consultation with the staffs of the Asian Development Bank and the European Bank for Reconstruction and Development)

Approved by Shigeo Katsu and Mohsin Khan

April 23, 2004

Use the free Adobe Acrobat Reader to view the text of this pdf file (491 kb).

Executive Summary
I.   Background
II.   Recent Developments in the CIS-7 Countries
  A. Growth, Poverty, and the PRSP Process
  B. External Finance and Debt Sustainability
  C. Fiscal Adjustment, Polices and Institutions
  D. Governance, Corruption, and the Business Environment
  E. Capacity Building
  F. Regional Cooperation
III.   The Way Forward
  A. Toward Effective Poverty Reduction Strategies
  B. Managing Public Finances and Debt
  C. Fostering Efficient Private Sector Development
  D. Placing an Emphasis on Regional Cooperation
IV.   Concluding Remarks
Annex 1. Assumptions Used in Debt Sustainability Scenarios
1.   Reducing Poverty in the Kyrgyz Republic
2.   The CIS-7 Countries and the Millennium Development Goals
3.   Community Development in Moldova and Tajikistan
4.   The IFIs' Work on Transparency and Budget Management
5.   Succeeding Against All Odds: Business Restructuring in the CIS-7
1.   CIS-7: Real GDP Growth
2.   Indicators of Public and Publicly-Guaranteed Debt Service
3.   Present Value Indicators of Public and Publicly-Guaranteed Debt Burden
4.   IFIs' Technical Assistance to the CIS-7, 2000-03
5.   CIS-7: Geographical Composition of Merchandise Trade
1.   CIS-7 Poverty Rates
2.   Incidence of Public Expenditures in the CIS-7
3.   Social Outcomes in the CIS-7 Countries
4.   CIS-7: Government Revenues, Expenditures and Deficit
5.   Public External Debt Service and Developmental Expenditures
6.   Obstacles to the Operation and Growth of Business in the CIS-7, 2002
7.   Growth Rates and Geographical Composition of CIS-7 Exports
Annex Tables
1.   Central Government Revenue (excluding grants)
2.   Exports of Goods and Services
3.   External Current Account Balance
4.   External Environment Assumptions