By Min Zhu
The world’s central bankers are certainly in the news these days. Not a week goes by without the Fed, the European Central Bank or the Bank of Japan taking big and often unprecedented actions to fight deflation, preserve financial stability, or address mediocre growth. We tend to forget, however, that these are not the only central banks that are struggling to adapt their policies to changing circumstances in our connected world.
Take the Caucasus and Central Asia — Armenia, Azerbaijan, Georgia, Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan. Central banking in these former Soviet republics rarely makes international headlines. But figuring out how best to design and run monetary policy is no less a challenge than in the United States or the euro zone.
Filed under: Advanced Economies, Economic Crisis, Economic research, Emerging Markets, Financial Crisis, Government, growth, IMF, International Monetary Fund, Politics, Reform | Tagged: Armenia, Azerbaijan, Bank of Japan, Caucasus and Central Asia, central banks, European Central Bank, exchange rate, Georgia, Kazakhstan, Kyrgyz Republic, Min Zhu, monetary policy, Russia, Switzerland, technical assistance, Turkmenistan, United States, Uzbekistan | Leave a comment »