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Friday, July 10, 2020 | History

2 edition of Estimating Soviet and East European hard currency debt found in the catalog.

Estimating Soviet and East European hard currency debt

United States. National Foreign Assessment Center.

Estimating Soviet and East European hard currency debt

a research paper.

by United States. National Foreign Assessment Center.

  • 215 Want to read
  • 25 Currently reading

Published by Central Intelligence Agency in Washington .
Written in English


Edition Notes

Reproduced by the National Technical Information Service.

SeriesER80-10327
ContributionsUnited States. Central Intelligence Agency., National Technical Information Service.
The Physical Object
Paginationv, 32p. :
Number of Pages32
ID Numbers
Open LibraryOL14142609M

  One of my favorite examples is when, in order to get hard currency, the GDR (German Democratic Republic), started to build railway lines in Iraq using cheap Chinese labor. It then got the hard currency to pay Bavaria, which loaned it money in the s. This was a moment when labor migrants got treated in very different ways in Eastern Europe. Thus, the Soviet Union's hard-currency balance of trade, including arms sales, with the Third World was positive from through In fact, the Soviet Union's positive hard-currency trade balance with the Third World exceeded its hard-currency deficit with the .

  Eastern Europe is hot. The iron curtain is down, markets are opening up and Western companies are rushing in to set up shop. The six largest international accounting firms and a handful of smaller ones are moving in, too, sometimes on the heels of clients, sometimes forging the way and encouraging clients to follow.   The nation's net debt is now about billion Reichsmarks, down from billion in East Germany is also loath to run a hard-currency deficit.

Main article: Geography of the Soviet Union. With an area of 22,, square kilometres (8,, sq mi), the Soviet Union was the world's largest country, a status that is retained by the Russian Federation. Covering a sixth of Earth's land surface, its size was comparable to that of North l and largest city: Moscow, 55°45′N 37°37′E / . The Soviet Empire is an informal term that has two meanings. In the narrow sense, it expresses a view in Western Sovietology that the Soviet Union as a state was a colonial onset of this interpretation is traditionally attributed to Richard Pipes's book The Formation of the Soviet Union (). In the wider sense, it refers to the country's perceived imperialist foreign policy.


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Estimating Soviet and East European hard currency debt by United States. National Foreign Assessment Center. Download PDF EPUB FB2

Title: estimating soviet and east european hard currency debt subject: estimating soviet and east european hard currency debt keywords. Get this from a library. Estimating Soviet and East European hard currency debt. [National Foreign Assessment Center (U.S.)]. In this book, Iliana Zloch-Christy analyzes the causes and consequences of the massive East European debt that began in the s.

In assessing the region's convertible currency debt problem, the author addresses five main issues: the origins of the debt; the possibility that such a debt was essential to Eastern Europe's economic development; the effects of the countries' own adjustments to Cited by: National Foreign Assessment Center (U.S.): Estimating Soviet and East European hard currency debt / (Washington, D.C.: The Center, []) (page images at HathiTrust) National Foreign Assessment Center (U.S.): Evolution of the central administrative structure of the USSR, reference aid / (Washington, D.C.

Eastern European gross hard-currency debt, 34 Eastern European net hard-currency debt, 36 Eastern European gross hard-currency indebtedness to Western commercial banks, 37 Medium- and long-term credits raised by Eastern European countries on the international financial markets, 39 The economic adjustment in turn led to pressures for political change as austerity measures took hold.

Despite this, little attention was focused upon the high debt levels of the s, although the net debt in convertible currency of the Soviet Union and Eastern Europe reached the Author: George A. Potts.

With national variations the situation in Eastern Europe was similar, except that a growing burden of hard currency debt made the likelihood of revitalizing the system seem all the more remote. Professor Wallace is Director of the Institute of Soviet and East European Studies, University of Glasgow, Glasgow G12 8RS, : W.V.

Wallace. The parameter estimates are reported in Appendix B. indices were taken from Kuelkereskedelmi Statisztikai Evkoenyv, various years.

CRANE AND KOHLER TABLE 6 ESTIMATED ELASTICITIES OF SOVIET BLOC HARD-CURRENCY IMPORTS WITH RESPECT TO HARD-CURRENCY RESOURCES Elasticity Commodity and SITC No.

Soviet Union Eastern Europe, 1) ) Cited by: 4. To complicate matters, Soviet interest in the region is characterized by a set of overlapping political, military and economic determinants in that Moscow has special concern in Romania and Bulgaria as members of the socialist bloc and of the various Soviet controlled organizations, and it has a concurrent interest in the peninsula as a whole in the realms of politics, strategy and : Aurel Braun.

In the second part of his essay on the decline of the Eastern Bloc Robert Brenner provides a prescient analysis of the likely outcome of the political and economic crisis in Eastern Europe and the Soviet Union. He correctly predicts that the future for the region would resemble less the post-war experience of Western Europe and would more closely follow the trajectory of the nations of.

A major variable is the price of oil, which is assumed to be $18 per barrel throughout the period for the av- erage blend of Soviet crude oil and refined product exports.

This is equivalent to $15 per barrel for benchmark global crude oil prices such as Saudi light. KEY JUDGMENTS. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account.

Find out more about sending content to Google Drive. Fugitive Leverage: Commercial Banks, Sovereign Debt, and Cold War Crisis in Poland, –Cited by: 1.

In addition to $6 billion in hard-currency deposits in the West, Government specialists estimate, Moscow has some deposits in Eastern Europe. Soviet Union's Hard-Currency Balance of Payments and Creditworthiness in (Rand Report) [Grossman, Gregory] on *FREE* shipping on qualifying offers.

Soviet Union's Hard-Currency Balance of Payments and Creditworthiness in (Rand Report)Author: Gregory Grossman, Ronald L. Solberg. Soviet-East European Relations Political risk analysis also requires an assessment of the relations between the individual Eastern European countries and the Soviet Union.

In the s and s Western business and political circles regarded Eastern Europe as a region "under the Soviet umbrella" which guaranteed Soviet assistance in case of Cited by: 1.

This chapter presents economic reforms in Eastern Europe and prospects for the s. General dissatisfaction with the traditional or in the late s somewhat streamlined Stalinist system of central planning and its growth performance was the motive for economic reforms in Eastern Europe and the Soviet.

The Soviet Union had a total hard currency debt of $ billion at the end ofaccording to Wharton's figures. EASTERN EUROPE: _____ SQUEEZING OUT OF DEBT MarkJ. Ellyne he six Eastern European countries of the Council for Mutual Economic Assistance (cmea) acquired $65 billion of gross debt during the s.

Inhowever, a severe credit crunch began. InPoland virtually defaulted on its debt and Romania later followed suit. Allowing for sales of gold, which are not included in the trade statistics, net Soviet hard‐currency earnings were estimated last year by the Chase Manhattan Bank at $1‐billion.

And East Germany, for all its industrial efficiency, still has the Eastern bloc's second-highest debt and must find $6 billion in repayment by the middle of next year. this period Gorbachev launched his reform Of the Soviet economy and China initiated second phase Of economic reforms with emphasis On the sector following the successful initial reform of the rural sector.

addition, hard-currency debt problelll$ Of East European countries once again became acuter in .Soviet hard-currency revenue shortfall of $ billion, the oil diverted from Eastern Europe and Cuba could bring $ to $ billion in additional hard-currency earnings to the Soviet Union and offset about one-third of the hard-currency revenue shortfall.The euro (EUR) has also been considered a hard currency for much of its short history, however the European sovereign debt crisis has partially eroded that confidence.

The Swiss franc (CHF) has long been considered a hard currency, and in fact was the last paper currency in the world to terminate its convertibility to gold.