Report  |   2016

Author(s): Timmer, Hans ; Bussolo, Maurizio ; Gould, David Michael ; Letelier, Raquel Alejandra ; Nguyen, Tu Chi ; Panterov, Georgi Lyudmilov ; Shaw, William ; Ushakova, Ekaterina ; Burns, Andrew ; Izvorski, Ivailo V. ; Pigato, Miria A. ; Sanchez, Carolina

The economies of Europe and Central Asia (ECA) are facing complex challenges. In the eastern part of the region the task of governments is to orchestrate a coordinated crisis response. The collapse of oil revenues and the associated decline in remittances triggered a chain reaction of shocks. Adjustment to these shocks requires a new monetary...