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Table 1 – Exchange rate regimes in Emerging Europe Bulgaria Currency Board Croatia Quasi-peg

CAPITAL MOVEMENTS TO EMERGING EUROPE AND EU CONVERGENCE: RECENT DEVELOPMENTS AND PROSPECTS ISTANBUL DECEMBER 2, 2005. Table 1 – Exchange rate regimes in Emerging Europe Bulgaria Currency Board Croatia Quasi-peg Czech Republic Float (limited intervention)

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Table 1 – Exchange rate regimes in Emerging Europe Bulgaria Currency Board Croatia Quasi-peg

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  1. CAPITAL MOVEMENTS TO EMERGING EUROPE AND EU CONVERGENCE: RECENT DEVELOPMENTS AND PROSPECTSISTANBULDECEMBER 2, 2005 Carlo Cottarelli, IMF

  2. Carlo Cottarelli

  3. Carlo Cottarelli

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  11. Table 1 – Exchange rate regimes in Emerging Europe Bulgaria Currency Board Croatia Quasi-peg Czech Republic Float (limited intervention) Estonia Currency board and ERM II Hungary Managed float within large band Latvia Peg and ERMII Lithuania Currency board and ERMII Poland Managed Float Romania Managed Float Slovakia Managed float with sizable intervention and stability Slovenia De facto peg and ERM II Carlo Cottarelli

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  15. Table 2. Vulnerability Indicators: Number of Emerging European Countries per Quartile 2005 2001 1st quartile 2nd quartile 1st quartile 2nd quartile External sector 1/ Current account balance 7 10 8 10 Current account minus FDI 5 8 5 8 External financing requirement 8 10 6 10 External financing from private sector 7 9 3 7 GIR/short-term debt 3 9 3 6 Gross external debt 6 8 3 6 Short-term debt 8 10 7 10 Fiscal sector 1/ Fiscal balance 5 5 3 4 Primary balance 6 10 4 8 Amortization of debt 2 6 ... ... Gross public debt 0 2 0 3 External public debt 0 2 1 1 Banking sector NPL ratio 1 3 0 4 CAR 2 5 0 2 ROA 3 8 1 3 Change in credit/GDP 5 8 2 6 1/ In percent of GDP unless otherwise indicated. Carlo Cottarelli

  16. Carlo Cottarelli

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