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

Author/Editor:

Basil B. Zavoiceo ; John C. Odling-Smee

Publication Date:

May 1, 1998

Electronic Access:

Free Full text (PDF file size is 537 KB).Use the free Adobe Acrobat Reader to view this PDF file

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.

Series:

Papers on Policy Analysis and Assessment No. 98/5

Subject:

English

Publication Date:

May 1, 1998

ISBN/ISSN:

9781451972610/1934-7456

Stock No:

PPIEA0051998

Price:

$10.00 (Academic Rate:$10.00)

Format:

Paper

Pages:

14

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