The Caucasus and Central Asia

Transitioning to Emerging Markets

Business & Finance, Finance & Investing, Banks & Banking
Cover of the book The Caucasus and Central Asia by International Monetary Fund. Middle East and Central Asia Dept., INTERNATIONAL MONETARY FUND
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Author: International Monetary Fund. Middle East and Central Asia Dept. ISBN: 9781475515343
Publisher: INTERNATIONAL MONETARY FUND Publication: April 10, 2014
Imprint: INTERNATIONAL MONETARY FUND Language: English
Author: International Monetary Fund. Middle East and Central Asia Dept.
ISBN: 9781475515343
Publisher: INTERNATIONAL MONETARY FUND
Publication: April 10, 2014
Imprint: INTERNATIONAL MONETARY FUND
Language: English
The countries in the Caucasus and Central Asia (CCA) have recorded significant macroeconomic achievements since independence. These countries have grown more rapidly--on average by 7 percent over 1996-2011--than those in many other regions of the world and poverty has declined. Inflation has come down sharply from high rates in the 1990s and interest rates have fallen. Financial sectors have deepened somewhat, as evidenced by higher deposits and lending. Fiscal policies were broadly successful in building buffers prior to the global crisis and those buffers were used effectively by many CCA countries to support growth and protect the most vulnerable as the crisis washed across the region. CCA oil and gas exporters have achieved significant improvements in living standards with the use of their energy wealth.
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The countries in the Caucasus and Central Asia (CCA) have recorded significant macroeconomic achievements since independence. These countries have grown more rapidly--on average by 7 percent over 1996-2011--than those in many other regions of the world and poverty has declined. Inflation has come down sharply from high rates in the 1990s and interest rates have fallen. Financial sectors have deepened somewhat, as evidenced by higher deposits and lending. Fiscal policies were broadly successful in building buffers prior to the global crisis and those buffers were used effectively by many CCA countries to support growth and protect the most vulnerable as the crisis washed across the region. CCA oil and gas exporters have achieved significant improvements in living standards with the use of their energy wealth.

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