Temporarily tight in Tbilisi: the countries of the former Soviet Union seem to have made remarkable cuts in their budget deficits. Or have they?

Article Abstract:

Several former Soviet republics have drastically cut budget deficits, controlling inflation but masking some serious problems. Cuts have been made by manipulating figures, supporting inefficient companies with too-cheap credit, and unsound spending cuts such as withholding wages and pensions.

International aspects, Economic policy, Former Soviet Union, Budget deficits

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Pulling the plug

Article Abstract:

Japanese banks are beginning to eliminate depressed foreign property used as collateral for many loans to Japanese companies. Long-Term Credit Bank announced that it will end lending to EIE Development Co, a real estate company that invested heavily overseas during the 1980s.

Banking industry, Planning, Finance, Long-Term Credit Bank of Japan, EIE Development Co.

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