Abstract:
This paper traces balance-of-payments developments in eastern Europe and
the USSR over the last decade and examines their potential for adjustment. The
growth of external debt and the balance of payments deficit, possible reasons
for the area's poor trade performance and the factors which may affect the
ability of these countries to secure adjustment are discussed.
The views expressed in this publication are those of the authors and do not necessarily reflect the views of the BIS or its member central banks.