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External Indebtedness and Economic Crisis
The Five and the West
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According agreements approach arguments austerity autarky balance-of-payments billion Bulgaria Central and East Central and Eastern Central European Chapter clear collapse commercial banks commodities concerning convertibility cooperation crisis Czechoslovakia debt management destabilization deterioration difficulties disintegration dollar trade dollar-accounted trade domestic East European countries East German Eastern Europe economic and political economic decline economic policy effective established exports external Five Five's foreign direct investment foreign trade former CMEA countries former Soviet Union framework funds German reunification global gradual hard-currency Hungarian Hungary important increase indebtedness industrial inflation inflow integration involved issues Koves liberalization living standards macroeconomic market economy ment monetary nomic OECD percent Poland Polish political change post-Soviet problems rapid reform region reorientation restructuring Romania ruble scheme shock therapy short-term shortage economy significant social stabilization state-owned enterprises suggests systemic transformation tion transferable-ruble uncertainty West Western governments Western policy