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Poverty Reduction, Growth and Debt Sustainability in Low-Income CIS Countries

WASHINGTON, February 14, 2002 – Despite progress in stabilizing and reforming their economies during the past decade of transition, the seven IDA-eligible countries of the former Soviet Union face high levels of poverty and uncertain growth prospects. A number of them are also confronted with severe fiscal and external debt problems, according to a new report prepared jointly by the World Bank and the IMF in consultation with the AsDB and the EBRD.

This paper was prepared as a follow-up to the Paper on external debt and fiscal sustainability of IDA-only CIS countries.

A seminar on the seven IDA-eligible CIS countries was held in London on February 21-22. The seminar was hosted by the U.K. Government and jointly sponsored by the World Bank, the IMF, the AsDB, and the EBRD. Please click here for Chairmen's Closing Remarks and The World Bank Press Release of *February 22, 2002 - Initiative to Assist Low-Income Countries of the CIS: New international focus facilities discussions on poverty reduction, growth and debt in poorest countries of the Former Soviet Union (.pdf, 71.0kb) and February 20, 2002 - London Meeting on Low-Income Countries of the Commonwealth of Independent States: Brainstorming session to focus on poverty reduction, growth and debt in poorest countries of the Former Soviet Union

On the eve of the conference Financial Times issued the article:
Debt relief urgent for poorest seven former Soviet countries (.pdf, 7.87kb)

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