Influence of IMF and other International Financial Institutions in Central and Eastern Europe: findings from Bulgaria, Hungary, Serbia and Slovenia
The role of International Financial Institutions (IFIs) – particularly the International Monetary Fund (IMF) – in Central and Eastern Europe (CEE) has not been the central focus of many analyses in the past. To address this gap, four case studies were commissioned by European NGOs analysing the situation in Bulgaria, Hungary, Serbia and Slovenia. These studies show that IFIs have played a crucial and often negative role in the economic transformation of these countries over the past 25 years, and they continue to play an important role to this day.
The case studies show that, in different contexts, IFIs have influenced the economic agenda in these countries. In all cases, the lack of effective consultation of the social partners, the parliament or the population before the adoption of the reforms has neglected the importance of the ownership of economic reforms. With poor consideration for the local context, IFIs have pushed the governments of these countries to adopt the same kind of reforms without achieving the promised positive economic and social results.
The synthesis report, country reports and their executive summaries can be downloaded below: