In 2009–2017, economies of Armenia, Belarus, Kyrgyzstan and Tajikistan lived through periods of adverse external and domestic conditions characterized by weak external demand and falling export prices. Devaluation of domestic currencies following the sharp depreciation of the Russian ruble,...

An annual volume of papers and information digests on the issues related to regional economic and political integration, issued by the Eurasian Development Bank and edited by Evgeny Vinokurov, director of EDB Centre for Integration Studies.

This working paper takes into account six sources of financing - international reserves, swap arrangements, EFSD, IMF, multilateral development banks and bilateral financial support for macrostabilization. The analysis is of particular importance in the context of the current crisis associated...

This study aims to contribute to understanding the potential risks and impacts of both explicit and implicit contingent liability shocks on government fiscal and debt positions in the EFSD recipient countries. Special attention is paid to the significance of state-owned enterprises and their...