The book is about economic developments and policies in the first
decade or so after the independence of the fifteen countries that
emerged from the dissolution of the Soviet Union in 1991. In those
years, the countries were beginning the transition from the Soviet
central planning system towards market economies. The book focuses
on the role of the IMF in this transition. It explains what the IMF
was trying to do and why. It discusses the many controversial
issues that involved the IMF, including the collapse in living
standards, the speed of economic reforms, the introduction of new
currencies, the economic crisis in Russia in 1998 and the
widespread corruption. The author had an inside seat as head of the
department in the IMF responsible for its work in these countries.
He knew the leaders and economic policymakers in all the countries.
The style is calm and reasoned, not polemical. Personal anecdotes
provide context and color.
General
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