CEE roundtable: Central bankers fight to get banks through the downturn

The credit crunch has spread to emerging Europe – despite what the region’s central bank governors may claim. They have taken action to bolster liquidity and shore up the banking sector. Chloe Hayward asked 14 monetary authority heads what more they can do to manage the inevitable downturn.

 CEE roundtable: Participants




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How has the credit crunch affected your country?
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KZ, Saidenov During the past few years commercial banks have been actively extending credits to the real sector of the economy. The main source of resources was external borrowing, which was the main way the crisis situation impinged on Kazakhstan’s economy.

The first signs of the crisis situation became evident in August 2007 when foreign investors started to withdraw their assets and commercial banks faced a liquidity deficit.

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