End of cold war economic

Question 1

Poland

Answer 1

GDP shrank by approximately 12%, over 16% undemployed by 1993,

Question 2

Romania

Answer 2

GDP shrank by 20%, inflation rate of 200%

Question 3

Bulgaria

Answer 3

The economy contracted by about 8% annually between 1990 and 1994.

Bulgaria also faced hyperinflation in the early 1990s, with inflation peaking at around 1,000% in 1997

Question 4

PHARE Program

Answer 4

(1990-2006): The EU’s PHARE (Poland and Hungary: Assistance for Restructuring Their Economies) - €13 billion

Question 5

TACIS program

Answer 5

1991–2006): The TACIS program provided aid specifically to former Soviet republics such as Russia, Ukraine, and the Caucasus.

Question 6

10 countries join UN

Answer 6

May 1, 2004, the EU experienced its largest enlargement, welcoming 10 countries from Eastern and Central Europe. These countries were:

Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, Slovenia

Question 7

Russia economic

Answer 7

: In 1992, Russia experienced hyperinflation, with the rate soaring to nearly 2,500%. By 1993, the inflation rate was around 840%.

Russia’s GDP shrank by about 40% from 1991 to 1998
By the mid-1990s, 40% of the population are in poverty

Question 8

1992 IMF loan

Answer 8

In 1992, Russia received its first IMF loan (around $1.5 billion) as part of a broader economic stabilization program.

Question 9

Debt/stock

Answer 9

Has $66 billion in external debt, and it possessed only a declining stock of not much more than $2 billion

Question 10

“G-7 Economic Assistance Package

Answer 10

April 1, 1992, President Bush and German Chancellor Helmut Kohl —- approved a one-year financial support package of $24 billion.

Have surplus 238 billion by 2022