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Cyprus: Prone to Recession
Despite of the bail-out package, the country is threatened by a deep recession in the coming two years.
April 3, 2013
Cyprus: Anastasiades Comes Under Suspicion
President Nikos Anastasiades is in dire straits as he is accused of having transferred huge amounts of money to foreign countries and having warned relatives. In the meantime, the austerity package is almost set.
April 2, 2013
Slovenia: “We Will Need No Bailout This Year”
Since Greece, Spain and Cyprus are currently finding themselves in disastrous economic situations, Slovenia does not want to seem like the next bail-out candidate.
March 30, 2013
Cyprus: 37.5 % Only The First Cut
Assets will be burdened much higher than assumed. Apart from the mandatory levy of 37.5 % a further amount of 22.5 % will be frozen in.
March 30, 2013
Slovenia: Situation For Banks Still Shaky
According to the National Bank, the new government in Slovenia needs to avoid becoming the new setting of bail-out negotiations with the EU after the banking crisis in Cyprus.
March 28, 2013
Medvedev Vexed Over EU
In case the government will not come to conclusion how to generate the required money (€ 5.8bn), the ECB will cut off the money supply for Cyprus’ ramshackle banks.
March 25, 2013
Cyprus: Bail-Out Package Accepted
Cyprus has been granted the € 10bn worth aid package by the EU. After ten hours of negotiations in Brussels the decision was made early this morning. Assets below € 100,000 will not be taxed.
March 25, 2013
Cyprus: Agreement on Bank Asset Tax
Today, the Cyprian government has come to a solution on the compulsory charges on bank accounts.
March 23, 2013
Cyprus: Votes on Mandatory Levy
In case the government will not come to conclusion how to generate the required money (€ 5.8bn), the ECB will cut off the money supply for Cyprus’ ramshackle banks.
March 23, 2013
Hungary: In a Debt Crisis Soon?
New all-time high in debts was reported. Hungarian populations hopes for fast political turn-around.
March 22, 2013
Cyprus: Negotiations About “Plan B“ Today
After days of negotiations in Moscow, Cyprian Finance Minister had to return empty-handed. Talks about “plan B” will continue today.
March 22, 2013
Cyprus: Small Investors To Be Excluded From Tax
After protests among Cyprus‘ citizens arised and harsh criticism was expressed, the government now intends to exclude small savers from the compulsary tax and grant them a relief.
March 19, 2013
Cyprus: Parliament Votes Tomorrow For Rescue Package
The Cyprian parliament is unlikely to vote in favor for the rescue package which forces bank clients to contribute with their private money.
March 18, 2013
Hungary: New Interest Rate Cuts Ahead
Since the beginning of March, Hungary´s National Bank MNB has a new governor. The government wants MNB to lower the base rate further.
March 16, 2013
Hungary: Orban Rejects Criticisms
After making amendments to the Hungarian constitution, Prime Minister Viktor Orban and his leading Fidezs party have to face harsh criticisms. EU Justice Commissoner Viviane Reding announced to take measures.
March 15, 2013
Bulgaria: EVN Under Surveillance
While the Austrian power supplier EVN is currently kept under surveillance of the Bulgarian judiciary and government, protests by the citizens all over the country continue.
March 11, 2013
IMF Dissatisfied with Croatia´s Economic Progress
Economic conditions have deteriorated lately, reflecting weak external demand, private sector debt reduction, and lack of business and consumer confidence, the IMF delegation said.
February 28, 2013
Romania: Key Rate to Remain Unchanged
“In line with our expectations and market consensus, the central bank remained on hold at its latest monetary policy meeting (5 February)”, Raiffeisen Research reports.
February 21, 2013
IMF Visits Croatia Again
A Mission of the International Monetary Fund, led by Nikolay Gueorguiev, arrived in Croatia for its usual semi-annual visit.
February 21, 2013
Ukraine: Budget Deficit Grows Considerably
General government deficit increased to 5.5% of GDP in 2012 (from 4.2% in 2011) amid feeble tax revenue performance, Raiffeisen Research says.
February 20, 2013
Ukraine´s Economy Stagnates
According to the preliminary estimate by the State Statistics Committee, Ukraine’s GDP grew 0.2% yoy in 2012, thus decelerating from 5.2% yoy in 2011.
February 20, 2013
Ukraine: Deal With IMF to be Cut in Summer
The visit of IMF mission to Kyiv did not bring the immediate results. Raiffeisen Research expects the negotiations to be rather prolonged.
February 20, 2013
IMF Praises Lithuania´s Economic Recovery
According to the International Monetary Fund, the income redistribution is not sufficient. In general, Lithuania´s economic performance is satisfying, however.
February 16, 2013
IMF Supports Lithuania´s Aim to Enter Eurozone
In 2015, the Baltic country wants to become a member of the Eurozone. According to Prime Minister Algirdas Butkevicius, the IMF welcomes this decision.
February 12, 2013
Hungary´s Economy to Recover?
Hungarian Minister of Economics György Matolcsy says that the country may achieve the turnaround this year. Last year, several adverse factors occurred at the same time, Matolcsy explained.
February 7, 2013
IMF Is Satisfied With Progress in Ukraine
This week, the meeting between the senior officials of the National Bank of Ukraine and experts from the IMF's European Department took place in Kyiv. The co-operation will be intensified.
February 7, 2013
Romania Privatizes Freight Division of National Railways
Romania´s government sells a 51% stake in CFR Marfa, the publicly held rail freight company.
February 6, 2013
„Hungary Needs Sustainable Reforms“
The IMF underline that the country must restore the confidence of international investors. At the moment, Hungary´s government is not forced to continue the talks with IMF.
February 5, 2013
„Croatia Has No Answer to the Crisis“
Economists fear that the economic crisis in Croatia will continue this year. The government does not implement enough reforms, observers say.
February 4, 2013
Orban: „Agreement with IMF Unlikely“
According to Hungary´s Prime Minister Viktor Orban, the IMF tries to put pressure on Hungary.
February 1, 2013
IMF Criticizes Hungarian Government
According to IMF, the economic outlook for Hungary is rather gloomy.
January 28, 2013
Rostowski: Poland´s Economy to Recover in Second Half of 2013
Poland´s Minister of Finance expects that the economic slowdown will continue for the time being.
January 28, 2013
Romania Needs More Time for IMF-Requirements
The financially stricken country did not implement the planned privatizations. EBRD criticized Romania´s slow progress.
January 23, 2013
IMF: Growth in CESEE Region to Accelerate
In the next three years, economic growth rates in central, eastern and southeastern Europe will return to the pre-crisis level, IMF says.
January 23, 2013
Croatia: Austerity Policy Faces Difficulties
Croatia´s Minister of Finance Slavko Linic thinks that the austerity policy cannot be continued.
January 22, 2013
Poland: Lower Growth Forecasts
The slowdown of the Polish economy continues. The government is becoming impatient.
January 22, 2013
Poland: Credit Line Renewed
The IMF guarantees a credit line of € 26bn to the Polish government.
January 19, 2013
IMF to Visit Serbia Again
The International Monetary Fund underlines that Serrbia must reduce its public debt. At the same time, the government must stimulate economic growth, IMF says.
January 18, 2013
Croatia Faces Stagnation
Last year, Croatia´s economy shrank substantially. In 2013, the country will recover, economists say.
January 5, 2013
Hungarian Government „Do Not Need Help from IMF“
Hungary´s Minister of Economics György Matolcsy argues that his country has never needed a loan from the IMF.
December 22, 2012
Ukraine: Fiscal Policy Faces Unsolved Problems
The budget draft for 2013 provides no room for the fiscal consolidation, which looks incompatible with the IMF requirements.
December 19, 2012
Ukraine: Reform Pressure Grows
Mykola Azarov is reappointed as Prime-minister, facing tough challenges ahead, Raiffeisen Research states.
December 18, 2012
S&P Downgrades Croatia
Croatia´s Minister of Finance Slavko Linic does not exclude that Croatia needs support from the IMF next year.
December 17, 2012
WIFO: South Europe Needs Change in Strategy
The Austrian Institute of Economic Research (WIFO) underlines that the austerity policy in South European countries did not help at all.
December 12, 2012
Hungary Considers Reducing Foreign Exchange Reserves
In order to repay loans, the Hungarian government is said to reduce the foreign exchange reserves of MNB (Hungarian National Bank). The government does not need to fear resistance by MNB.
December 1, 2012
IMF: Higher Risks for Austrian Banks in CESEE
In an interview with the Austrian news magazine “Presse”, IMF´s Executive Director Johann Prader explained that the European debt crisis has arrived in Central, East and Southeast Europe.
November 28, 2012
Serbia Attempts New Economic Reforms
The Serbian government does not only want to pursue a strict austerity policy. The country aims to become more attractive for international investors.
November 17, 2012
Romania Hopes for New IMF Loan
The economic situation remains gloomy. Foreign direct investments are weakening. The economic outlook is rather decent.
November 13, 2012
Romania: Joining Eurozone is „Not for Sure”
Romania´s Prime Minister Victor Ponta expressed his concerns about introducing the euro in Romania.
November 5, 2012
Estonia: IMF More Optimistic
The Estonian economy is expected to expand by 2.4% this year.
October 18, 2012
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