Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451955715
Total Pages : 35 pages
Book Rating : 4.4/5 (519 download)
Book Synopsis Transitional Arrangements for Trade and Payments Among the CMEA Countries by : International Monetary Fund
Download or read book Transitional Arrangements for Trade and Payments Among the CMEA Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 1990-09-01 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade among the CMEA countries will soon be conducted at world prices and in convertible currencies. These are crucial steps in economic reform but will worsen Eastern Europe’s terms of trade and drive it into current account deficit with the USSR. Proposals have been made for a payments union, resembling the European Payments Union of 1950-1958, to ease the transition. But it would not be very helpful if confined to the countries of Eastern Europe and would not function well if it included the USSR, which would be a persistent creditor. Other ways must be found to deal with the transition.