The European Central Bank (ECB) has today published three new guidelines (Guidelines ECB/2016/31, ECB/2016/32 and ECB/2016/33). These guidelines provide amendments to (i) the General Documentation Guideline on the implementation of the Eurosystem’s monetary policy (ECB/2014/60), (ii) the Guideline on Valuation Haircuts (ECB/2015/35) and (iii) the Guideline on Additional Temporary Measures relating to Eurosystem refinancing operations and eligibility of collateral (ECB/2014/31). The new Guidelines introduce changes to the monetary policy implementation framework, including: First, the Eurosystem is introducing some changes to the...

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Solid growth in most of the region, CIS emerging from recession But sustaining current growth requires further structural reforms Better tax administration, public investment can free up 2-4 percent of GDP in extra resources Economic growth remains solid in much of Central, Eastern, and Southeastern Europe (CESEE), while Russia’s outlook is improving, and other countries of the Commonwealth of Independent States (CIS) are emerging from recession, says the IMF in its latest Regional Economic Issues report on the region. For the region as...

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