This Technical Brief is the fifth in a series that addresses financial sector challenges and opportunities in Southeast Europe and Eurasia, specifically the twelve Beneficiary countries of USAID’s Partners for Financial Stability program. The Technical Brief highlights the potential for ongoing fallout from the European debt crisis. The risk from high levels of foreign currency denominated and indexed lending to households and businesses requires more attention and concerted efforts to...
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- 30 Jan 2012 - 31 Jan 2012
- 31 Jan 2012 - 31 Jan 2012
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Robert Singletary’s Blog: What does the Eurozone Deterioration Mean for the 12 Markets of Southeast Europe and Eurasia?
18 Jan 2012
Yesterday, I wrote about the impact that the Friday-the-13th S&P downgrades carried for fixed income portfolios invested in the Eurozone. The region has received some significant bad news and braces itself for more.
The logical extension of the analysis from the PFS viewpoint is: what does the Eurozone deterioration mean for the 12 markets of Southeast Europe and Eurasia? The answer is: “the degree of fallout is not completely clear but definitely not positive.”
In...
Robert Singletary’s Blog: The “Morning After” the Downgrade of European Countries’ Credit Ratings
17 Jan 2012
The “morning after” impact of Standard & Poor’s downgrade of 9 countries within the Eurozone is being revealed this week and should be fully evident as the US markets open this Tuesday after a holiday weekend. One expects that these downgrades will impact EU countries’ borrowing costs over the near term more than the previous S&P decision regarding the US, not the least because the dollar is the world’s reserve currency.
...
Pension Systems and Pension Reforms: Case of Croatia
22 Dec 2011
This study covers 13 countries of interest under the USAID’s program Partners for Financial Stability Program (PFS). The 13 countries are at very different stages of pension system reform. The mentor country – Croatia is an early reformer which embarked on a multi-pillar pension system reform as early as 2002 when first mandatory pension funds became operational. Nowadays their total assets
under management represent more than 10% of GDP.
...
PFS Corporate Governance Guidelines for Insurance Companies
20 Dec 2011
Corporate governance defines organizational roles and responsibilities of an enterprise. It generally encompasses five areas: corporate culture and environment, corporate structure, governing policies, controls and procedures and decision-making. The framework clarifies who possesses the duty and legal power to act on behalf of a company and sets requirements for documenting decisions and disclosure to stakeholders. An effective structure should allocate oversight and administrative...
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