IMF and EBRD Deeply Concerned Over CESEE

Politics ♦ Published: January 14, 2014; 22:48 ♦ (Vindobona)

Foreign banks continue to withdraw capital from the region. According to the International Monetary Fund, the development is highly considerable.

IMF and EBRD Deeply Concerned Over CESEE / Picture: ©

The International Monetary and the European Bank for Reconstruction and Development are worried about Central, Eastern and Southeastern Europe.

At the end of 2008, total assets of foreign banks in CESEE came at € 450bn. In the past five years, total assets went down to € 320bn. As a result, foreign investors and banks reduced foreign claims by more than € 130bn since…