Prepared jointly by the Europe and Central Asia Region of the World Bank and
the Middle East and Central Asia Department of the IMF
(In consultation with the staffs of the
Asian Development Bank and the European Bank for Reconstruction and Development)
Approved by Shigeo Katsu and Mohsin Khan
April 23, 2004
Use the free Adobe Acrobat Reader to view the text of
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Contents
| Glossary |
|
| Executive Summary |
|
| I. |
Background |
|
| II. |
Recent Developments in the CIS-7 Countries |
| |
A. |
Growth, Poverty, and the PRSP Process |
| |
B. |
External Finance and Debt Sustainability |
| |
C. |
Fiscal Adjustment, Polices and Institutions |
| |
D. |
Governance, Corruption, and the Business Environment |
| |
E. |
Capacity Building |
| |
F. |
Regional Cooperation |
|
| III. |
The Way Forward |
| |
A. |
Toward Effective Poverty Reduction Strategies |
| |
B. |
Managing Public Finances and Debt |
| |
C. |
Fostering Efficient Private Sector Development |
| |
D. |
Placing an Emphasis on Regional Cooperation |
|
| IV. |
Concluding Remarks |
|
| Sources |
|
| Annex 1. Assumptions Used in Debt Sustainability
Scenarios |
| Boxes |
| 1. |
Reducing Poverty in the Kyrgyz Republic |
| 2. |
The CIS-7 Countries and the Millennium Development
Goals |
| 3. |
Community Development in Moldova and Tajikistan |
| 4. |
The IFIs' Work on Transparency and Budget
Management |
| 5. |
Succeeding Against All Odds: Business Restructuring
in the CIS-7 |
|
| Tables |
| 1. |
CIS-7: Real GDP Growth |
| 2. |
Indicators of Public and Publicly-Guaranteed
Debt Service |
| 3. |
Present Value Indicators of Public and Publicly-Guaranteed
Debt Burden |
| 4. |
IFIs' Technical Assistance to the CIS-7, 2000-03 |
| 5. |
CIS-7: Geographical Composition of Merchandise
Trade |
|
| Figures |
| 1. |
CIS-7 Poverty Rates |
| 2. |
Incidence of Public Expenditures in the CIS-7 |
| 3. |
Social Outcomes in the CIS-7 Countries |
| 4. |
CIS-7: Government Revenues, Expenditures and
Deficit |
| 5. |
Public External Debt Service and Developmental
Expenditures |
| 6. |
Obstacles to the Operation and Growth of Business
in the CIS-7, 2002 |
| 7. |
Growth Rates and Geographical Composition
of CIS-7 Exports |
|
| Annex Tables |
| 1. |
Central Government Revenue (excluding grants) |
| 2. |
Exports of Goods and Services |
| 3. |
External Current Account Balance |
| 4. |
External Environment Assumptions |
