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Many of the largest banks in Southeast Europe and, to a lesser extent, Eurasia are owned by foreign banks. Particularly in SEE, the foreign parent banks are almost exclusively from the Eurozone, where banking and economic conditions are under strain. The countries in Southeast Europe and Eurasia with the greatest exposure to foreign parent banks are Bosnia and Herzegovina, Macedonia and Albania.

 


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Banks Map

This map sums up all of the areas of vulnerability to a potential new wave of financial instability: financial sector and macroeconomic stability, current account balance, bilateral trade linkages with the vulnerable Eurozone (PIGSA) countries, exposure by way of foreign owned banks, and remittances vulnerability. The countries with the highest risk of economic and financial instability stemming from potential contagion from the Eurozone are Albania, Bosnia and Herzegovina and Montenegro. 
 

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Overall Vulnerability

This map shows countries’ reliance on and vulnerability to changes in remittances from citizens working outside the country. When economic conditions are stressed, remittances often dry up and cause hardships to reliant family members back home. The countries in Southeast Europe and Eurasia which are most exposed in terms of remittances are Moldova, Bosnia and Herzegovina and Kosovo.


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PFS Remittances Vulnerability Index

Many of the largest banks in Southeast Europe and, to a lesser extent, Eurasia are owned by foreign banks. Particularly in SEE, the foreign parent banks are almost exclusively from the Eurozone, where banking and economic conditions are under strain. The countries in Southeast Europe and Eurasia with the greatest exposure to foreign parent banks are Bosnia and Herzegovina, Macedonia and Albania.


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Foreign Owned Banks (Share in Total Assets)

This map shows the countries in Southeast Europe and Eurasia that have large trade linkages with the vulnerable countries in the Eurozone: * Portugal, Italy, Greece, Spain, and Austria. The countries that are most exposed to a general slowdown in trade with the vulnerable Eurozone countries are Albania, Macedonia and Bosnia and Herzegovina.


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Bilateral Trade with PIGSA* countries

Countries with large current account deficits are vulnerable to macroeconomic shocks and would be hard hit by another wave of potential financial instability. Kosovo, Montenegro and Georgia are the most vulnerable.

 

 

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Current Account Balance

                                   

PFS Accomplishments Booklet
14 May 2013

This Booklet highlights accomplishments by the Partners for FInancial Stability Program over the past three years. PFS supported financial sector development by bringing together regional players from Partner and Mentor Countries who addressed regional challenges, promoted the adaption and implementation of international best practices, and shared experiences and lessons learned. All PFS activities were designed to complement and enhance USAID missions' bilateral Economic Growth...

Leslie Sulenta's Blog: Bi-weekly Financial Sector Highlights (News and References) from the E&E Region
13 May 2013

Southeast Europe News

Albania: Poor Economy Continues to Drag Down Banks; Non-Performing Loans Reach 22.5% of Total Loans – Speech by Governor of Bank of Albania
Balkans 5-8-2013: http://www.balkans.com/open-news.php?uniquenumber=174161

Albania: Central Bank,...

PFS Technical Brief 10 - Macroprudential Supervision in Southeast Europe and Eurasia: Preventing the Next Financial Crisis
02 May 2013

This Technical Brief is the tenth 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 Brief explains the special importance of macroprudential supervision for preventing the next financial crisis - and maintaining access to finance - in the target region and outlines recent progress and challenges.

 

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USAID Partners for Financial Stability Program Marks Completion in Armenia
30 Apr 2013

Yerevan, Armenia – On April 23, the USAID-funded Partners for Financial Stability (PFS) project marked the successful completion of activities in Armenia. The USAID PFS was a three-year regional program (2010-2013) with the goal of addressing the recent global financial crisis and enhancing financial sector stability and growth in 12 partner countries in the Europe and...

7th Regional CEED Conference: Getting Over the Top
26 Apr 2013

CEED (the Center for Entrepreneurship and Executive Development)is a membership organization serving a new generation of internationally oriented entrepreneurs around the world. Entrepreneurs join CEED to gain access to the mentors, networks, knowledge and capital they need to grow their businesses. CEED is building a trusted community of growth oriented and like minded entrepreneurs. CEED’s network consists of over 10.000 entrepreneurin Albania, Armenia, Bangladesh, Bosnia,...

PFS Technical Brief 9 - Deposit Insurance in Southeast Europe and Eurasia: Progress, Challenges and Gaps
19 Mar 2013

This Technical Brief is the ninth 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 Brief explains the importance of deposit insurance to financial stability and access to finance; outlines recent progress, challenges, and gaps in the target region; and spells out how the PFS project’s regional initiative on deposit insurance has...