...Worst fears of a systemic economic and financial meltdown in Emerging Europe (EE) have receded as global output has started to recover and financial conditions have eased. Improved prospects have been driven by the huge global fiscal and monetary policy stimulus, rescue packages led by international financial institutions (IFIs) and the EU, and (in many countries) impressive economic resilience and policy discipline. However, major challenges remain due to the scale of the negative shocks; the costly legacy of the crisis, notably rising public debt ratios, worsening bank asset quality, lower capital inflows and weaker growth prospects; and the uncertain "exit" from the crisis. A relapse in one of the more vulnerable countries could provide a sting in the tail, triggering ripples across the region. In contrast to the rally in bond prices, sovereign ratings dynamics remain negative, albeit at an easing pace. Following 11 notches of downgrades of ForeignCurrency Issuer Default Ratings (IDRs)...
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| Company(ies): | Government of Slovakia, Government of Turkey, Government of Hungary, Government of Moldova, Government of Azerbaijan, Government of Russia, Government of Latvia, Government of Ukraine, Government of Georgia, Government of Romania, Government of Bulgaria, Government of Estonia, Government of Slovenia, Government of Kazakhstan, Government of Czech Republic, Government of Croatia, Government of Poland, Government of Armenia, Government of Lithuania, Government of Macedonia
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