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Europe > Montenegro

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Cover IMF Working Papers
Being Poor, Feeling Poorer: Inequality, Poverty and Poverty Perceptions in the Western Balkans
Zsoka Koczan
Emerging Europe has undergone a major economic transformation over the past 25 years. Most countries experienced initial drops in output during transition, followed by recovery in the second half of the 1990s. The path of transition in the Western Balkans has however been particularly uneven. The effects of transition also seem to have been more traumatic and persistent in the Western Balkans, and nostalgia for the past appears to be more prevalent here than in other former communist regions. Such dissatisfaction has important implications for the political economy of further reforms. This paper aims to inform policy by complementing the analysis of standard macro-level measures of inequality and poverty with a household-level analysis of subjective perceptions of poverty. We find that many more people appear to feel poor than are classified as such using purely income-based measures. Uncertainty, in particular related to expectations of future income and vulnerability to shocks, appears to be a key driver behind this discrepancy.
Keywords:
WP; center; poverty perception; poverty measure; capital expenditure; household expenditure; Inequality; Poverty; Western Balkans; Subjective poverty measures; farm income; poverty indicator; poverty gap; poverty in the Western Balkans; Personal income; Income inequality; Poverty measurement; Central and Eastern Europe; Europe
Cover IMF Staff Country Reports
Republic of Slovenia: Financial System Stability Assessment
International Monetary Fund. European Dept.
and
International Monetary Fund. Monetary and Capital Markets Department
The Slovenian financial system has been hard hit by the crisis. Banks remained highly vulnerable to continued credit deterioration and refinancing risks. Strengthening of financial condition of banks should be the short-term priority. The financial restructuring should be followed by privatization of state-controlled banks. The supervision of financial institutions should be complemented with a macroprudential overview geared toward overall stability of the financial system. The crisis preparedness and management framework should be improved, and risks to systemic financial stability should be identified.
Keywords:
ISCR; CR; bank lending; resolution tool kit; bridge bank; bank borrowing; bank equity; bank resolution tool kit; banking system; state-controlled bank; bank assets; capital market; bank downgrade; bank subsidiary; bank-restructuring transaction; Commercial banks; Stress testing; Loans; Insurance companies; Real estate prices; Global