Latvia will continue to intervene to defend its fixed-rate currency as it has sufficient foreign exchange reserves to do so, Bank of Latvia governor Ilmars Rimsevics told CNBC in an exclusive interview Wednesday.
CNBCâs Martin Baccardax speaks to the Estonian Prime Minister Andrus Ansip, the Lithuanian Prime Minister Andrius Kubilius and the Latvian Prime Minister Valdis Dombrovskis about the outlook for the Baltic region.
A handful of top Russian business figures have created an MBA program that tackles the issues they faced themselves: bribery, relentless bureaucracy, imperfect laws.
The International Monetary Fund and the EU have pumped billions of euros in Central and Eastern European countries, but their economies are still suffering.
The credit crisis has had a near-catastrophic effect on many of the emerging economies in Eastern Europe. The International Monetary Fund shelled out tens of billions in emergency loans for the region, while governments have collapsed and angry protesters took to the streets in some countries.
The CEE Stock Exchange Group, consisting of the Vienna, Budapest, Ljubljana and Prague stock markets, is interested in buying more stock exchanges in the region, Michael Buhl, CEO of the CEE Stock Exchange Group, told CNBC.com in an interview.
Risk is back on the table after a terrible end to last week for the bulls. Following news of "Operation Twist" from the Federal Reserve, the market sold off aggressively, adding the pressure on policy makers as they met in Washington over the weekend to try and find a plan to avert a euro zone sovereign debt and banking crisis.
The once-booming CEE is stealing the limelight again but this time for less palatable reasons. As one analyst put it, "Eastern Europe's problem is a greater weight on the Western European nations than the subprime is in the United States."
The euro zone's rescue fund, the European Financial Stability Facility (EFSF), will be allowed to buy bonds in the secondary markets, according to a document setting guidelines for the fund seen by Reuters correspondents.
Eastern Europe will recover by the end of next year as government stimulus measures start to take hold and banks return to the region, Thomas Mirow, president of The European Bank for Reconstruction and Development, told CNBC.
Russian President Dmitry Medvedev said Friday that an increase in state ownership was inevitable in some sectors of the economy hurt by the global downturn, but promised it would be short-lived.