Central and E Europe’s growth forecast slashed

The European Bank for Reconstruction and Development reports in its Transition Report 2008 issued in November 2008 that the global credit crisis is forcing a rapid economic slowdown in the ex-communist states of central and eastern Europe, particularly in countries dependent on international financial flows.

EBRD: Transition Report 2008 http://www.ebrd.com/pubs/econo/tr08.htm

EBRD: Press Release, 25.11.08: EBRD economies to slow sharply in 2009 http://www.ebrd.com/pages/news/press/2008/081125.shtml

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