Seminar on Currency Boards in the Context of EU Accession: Brussels, 25 November 1999 : Summary of Proceedings and Papers |
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Page 24
... percent ; this , however , was in large part financed by foreign borrowing and privatization proceeds . Following years of very large deficits , in 1998 Bulgaria recorded the first general government surplus ( 1 percent of GDP ) during ...
... percent ; this , however , was in large part financed by foreign borrowing and privatization proceeds . Following years of very large deficits , in 1998 Bulgaria recorded the first general government surplus ( 1 percent of GDP ) during ...
Page 96
... percent backing of their national currencies by international reserves with a peg to the German mark ( e.g. Austria ... percent to 38.0 percent of total exports and imports grew from 44.3 percent to 47.2 percent . It should be noted that ...
... percent backing of their national currencies by international reserves with a peg to the German mark ( e.g. Austria ... percent to 38.0 percent of total exports and imports grew from 44.3 percent to 47.2 percent . It should be noted that ...
Page 97
... percent . The continuing problematic economic situation in Russia , the Ukraine , Kazakhstan and other CIS countries ... percent of imports to Lithuania and 34.3 percent of payments were in EU currencies , in 1998 the share of the dollar ...
... percent . The continuing problematic economic situation in Russia , the Ukraine , Kazakhstan and other CIS countries ... percent of imports to Lithuania and 34.3 percent of payments were in EU currencies , in 1998 the share of the dollar ...
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accession countries adjustment adopt the euro anchor currency assets average Bank of Estonia Bank of Lithuania banking sector banking system budget Bulgaria candidate countries capital movements cent central bank commercial banks competitiveness credibility currency board arrangement currency board system Currency Commission current account deficit debt Directorate domestic Economic and Financial Economic and Monetary economic policy EMU acquis ERMII Estonian kroon Estonian monetary euro area European Commission European Union exchange rate policy exchange rate regime exports Financial Affairs financial markets financial sector fiscal policy fixed exchange rate flexibility foreign exchange framework growth Honohan implementation important increase inflation integration interbank interest rates investment Irish pound joining the euro liquidity litas macroeconomic Member monetary policy monetary system Monetary Union money market nominal participation payments percent period real exchange rate reserve requirement Russian crisis seigniorage stabilisation trade transition economies wages