Two years after the global economic slowdown brought havoc to Central and Eastern Europe, the International Monetary Fund is back to renegotiate aid packages issued at the time. Most of the region’s strapped states have bounced back, with some in better economic shape than their Western counterparts. The upturn has led some governments to reject the IMF’s latest aid terms, which gets to the heart of the tense ties between established lending organizations and smaller states that are still reluctant to cut public spending.
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