The CIS-7 Initiative
An International Initiative to Promote Poverty Reduction,
Growth and Debt Sustainability in Low-Income CIS Countries:
Armenia, Azerbaijan, Georgia, Kyrgyz Republic, Moldova, Tajikistan, Uzbekistan
Despite progress in stabilizing and reforming their economies during the past decade of transition, the seven IDA-eligible countries of the former Soviet Union ( the CIS-7) face high levels of poverty and uncertain growth prospects. Some of them are also confronted with severe fiscal and external debt problems.
A brainstorming seminar on the CIS-7 was held in London on February 21-22, 2002 to collect views on the need for greater international attention to the situation in these countries. The seminar was hosted by the U.K. Government and jointly sponsored by the Asian Development Bank ( ADB ), European Bank for Reconstruction and Development ( EBRD ), International Monetary Fund ( IMF ) and the World Bank ( WB ). A key conclusion of the seminar was that a new Initiative for the low-income CIS countries should be launched.
A background report entitled
Poverty Reduction, Growth and Debt Sustainability in Low-Income CIS Countries
was prepared by the World Bank and the IMF, in consultation with the ADB and the EBRD, for the London seminar.
Country Notes: Debt Sustainability and Policy Priorities to Ensure Growth in the CIS-7 Countries
The draft of the
New Initiative for the CIS-7
These documents were prepared as a follow-up to the Report on
External Debt and Fiscal Sustainability of IDA - only CIS Countries
London Seminar's Highlights:
Chairman's Closing Remarks
(.pdf, 71 kb) and the
As agreed during the London seminar, a ministerial meeting was convened in Washington, DC on April 20, 2002 to endorse a Statement of the principles and objectives of the CIS-7 Initiative. Ministers expressed strong support for the Initiative and stressed the importance of enhanced reform efforts by the CIS-7 governments as a prerequisite for increased financial support from donors and creditors. Participants also urged improved cooperation among the CIS-7 on regional issues and strengthened coordination among the IFIs.
Washington meeting highlights:
(.pdf, 49 kb)
On the eve of the seminar in London the Financial Times issued the article on the event: S. Wagstyl.
"Debt relief urged for poorest seven former Soviet countries"
,- Financial Times, February 19, 2002.
On April 8, 2002 The Economist Global Agenda presented the article on CIS-7
"Counting the Cost"
CIS-7 Countries' Chronucle
Moldova's Commitment to Stopping the Spread of HIV/AIDS and TB is Rewarded with $1.7 Million Grant
CIS-7, Part 1: A look at Work in ECA's Poorest Countries.
CIS-7, Part 2: A Look at Work in ECA's Poorest Countries.
Contact: General issues - Carolina Revenco -
Web Master - Helena Makarenko -