unexpectedly inefficiencie issue dropped taken implementation sole london load undisbursed BOSNIA shown licence threshold excluded jan agroinvestbank electronic socially contribute 350 going 311 balkan 825 CBA rescheduling liabilitie project industrial estimate share 2002 option foreseeing PRSP’ satisfactorily valuation indirect conducting rekindled humanitarian dependence appropriate rate matter proper” owned categorie voucher €44 ukraine’ nomin0al source recover local deepen outcome education chronically peg creditors’ allowing CAMEL “excellence item ‘bulldozer reducing show issuing sufficient lack repayment montenegrin even characterised affecting repo 1991 partie immediately acceptance SDR involve return los restriction minister rose better 775 obstacle supply earning final armenia’ VII anymore 700 spend viable already ferro describing decentralisation subsequent mediterranean inserted exchange incurred heavily attractive etc latter modalitie 708 approximately quota 588 position rent holding lowest deal personal pillar owner unified primarily 542 shortcoming conditional SERBIA decelerated financing table green meantime 526 denomination exposure trading partner 225 142 delay substantial burden partly dissolved wa real set country averaging job strengthening met could organic gazprom securitie port privatised narrowed allocate considering eliminated referendum survey bring facilitate evasion €60 application protected predictability banking driven provider 3015 both commoditie applicable moldova’ eventually 872 witnessed targeted prior mainly ECONOMIC unbundling regular mining manager country' dollarisation creation stability relief would administered supervisory KAP european significantly restructure accumulated volatile spurred global adopted countrie recommendation third estate €280 liquidation behind deviate digit 1751 mio planning bad specifie preserving tightening expand approach cumulative undershot years1 absence incl tailored character prevention 305 enter foreign rather stuff district INITIATED closely expanded recommended downward incorporate volume higher 472 draft auditor mobilise 132 late overdue key prime DECISIONS plan endanger yerevan dynamic severely appear replaced unfavourable parliament area hope imply tandem establishment impede sheet transformed exist preliminary INTRODUCTION right today construction servicing brake necessary withdrawing imports’ funding refugee released privatization bond four slippage protracted harmonising canton introduce cotton publicly curbed country’ reversal resume NIS georgian weathered affected absorb 600 legislative 383 represented previously wine broadened simple brussel 1477 hryvnya season differentiation negatively burdened risen currency 419 995 emerging aircraft database sharing pickup failure mandatory partnership 883 expected near leading 1998 advance pre never 105 silent causing 408 action renewal 559 “strategic” many guaranteed 580 2800 kazakhstan dispatch kosovo considerably compensated widespread denar PHARE inventory planned exact initiated disclosure inflation winerie EC’ provide supreme appreciated supporting way reserves’ recovery MFN donorgrant electricity ISPA abolishing 168 178 totalling 124 MFA understanding remaining subsidie representative €98 german imported euro identified smuggling APAPS investment 940 quick fast 5607 523 focusing serbia distortion programmatic concerning presented MACEDONIA match continuation 901 underpin laundering adopting account purchase resource alone little switch faster underway interbank tajikistan parameter 392 creating relation announce begun uncertainty beyond BCR zestafoni increase picked bank’ 20019 absolute previou providing smou 329 525 787 withhold embedded 2001 published possible implie clarifie later kept FORMER oblenergo 1400 metal law HERZEGOVINA 346 incorporation turn past export cost refund unemployment accumulate passed unhindered aug gave introduced agricultural engaged privately entitlement simplifying excluding under contrast albanian tax albania EU’ feb regained move facto yugoslavia armenia differential earlier postponed union typically drastic zone group promoting macroeconomic tourism pronounced payment impose yugoslav inflow soon buyer 310 origin provisioning end reach funded reliable MEDA great independence supplementary losse expansion particular implement than just vicinity effective department chapter 850 monopoly supervision perennial reduction €80 living traditional follow continued effort €20 strength rapid MTEF zero 2000 concentration effectivenes proceeded underlying practice order following 471 data XII 4177 “functional” labour 131 government’ hryvnia intend after repay back IFI VI quantitative 855 poti opportunity BOP employment 1147 vi slovak growing adapting perceived SME allocated 1997 integration came IX putting sphere vulnerabilitie kind 820 statutory agency indebted programmed assessment instrument AIB grown strongly reshape THIRD TACIS onto whole went new evaluation nuisance 870 promote SAC default progres quasi composed vital REFORM insolvent respectively needed develop sugar 439 experienced communication automotive repercussion negotiation enhance infancy technically conclusion 407 wide deemed 148 start IFI' ending lagging REGION 2009 actual tajik donor japan restructured vulnerable fertiliser resulted actually generated 1990 special facilitated criteria generally 345 money alignment consistent ordination eight forward integrate devaluation acquired compared obligation tender freely 938 mobilised welcome trend intent did ten averaged autonomou unofficial announced any external define more material 141 fyrom regarding ceiling eliminating report ‘medium EFF september detailed most operational look 900 simpler had stop information problematic SBA inspection focu reaffirmed completing pipeline measurement excessive again relevant 695 smoothly winter phase much procedure servant explained part moldtelecom alcoholic iii settle left assessing fact seen 7200 plagued upon only employer resumed basket unwinding successor aggregate recorded UKRAINE community’ structural benefited disappointing remainder 288 awarded 146th PAL align strong gros sustained OF secretariat balanced meet exceptional into advanced 438 good making fulfilled dependent provision alloy concern 260 authoritie cleared EC disinflation state barki podgorica probably taxpayer registered economy' delayed prompted harmonized tobacco US flat associated circumstance NBT complementarity secured recession attitude increasing come communist preparation least 'report 1993 stance percentage 400 household decided introduction taxation virtually dinar fixed divestiture “fit estonia €50 election paper received lukewarm defend last tighter 1201 update implied next almost taxe transaction 110 deficiencie toward value cooperation finding duty contain ASSISTANCE overview revitalise consolidation liberalisation negligible intended restricting company anti make progressive loosening leather industry big maintaining robust REPUBLIC august advisor COUNTRIES choose GFS 264 agenda property grew transformation 556 launched secondary incentive copenhagen applied some creditor arrangement committee notably constant improvement ahead sustainability financial wake respect nominal non against 549 cultural joining playing society launching feasibility ability adherence dram improve profit aspect telecommunication likely 3483 detected selling political positive necessarily BY adjustment enterprise 442 preparing fenosa rapidly insufficiently deloitte emerge liberal user oriented EU IV durable unsatisfactory shift domestically saving mitigate import CEEC registering product overhauled anchor conditionality course treasury variou notwithstanding lower €345 comprising opennes specific pursued underestimate internal 731 package pursue exporter american utilitie pegged deputy occurred involved other united 3885 term except allocation 733 principle initiative another €550 demand3 target view committed 125 fiscal request 2008 ranging 1564 entered LIST specificity aftermath €15 ARMENIA relie curb salary merged neighbouring exit soft economy IMF consultant amonatbank write OPERATION commercial halted favour underdeveloped insufficient inadequate repeatedly increasingly office well progressed hamper recent reintroduced polished worth potential concentrated bulgaria sharp 060 COM governing MKD followed regulated sharply stood oct linked warranted WTO implementing billing establishing outpacing erratic directed suitable 156 unbalanced insurance meant counteract SUMMARY world hospital straight early incompatible depreciating trade amended 196 road 118 form 1065 board’ 1020 supplement figure annual 1989 unresolved seed being executive december ongoing 1430 mill hungarian flour comply july possibly pact 1999 may copper 9000 presently different functional diamond reform7 worsened attached immediate mid requested crucial metallurgy amply harve GDP 1992 thu 460 244 income evidenced regard ordinator hard manage OHR number 452 295 K2R4 attempted ownership granting managed now deepening beverage 100 300 column prioritising how proved 5600 imposing their scale relating drafted therefore having forecast slowly financed tape included ratification ESAF question auditors’ 265 unsuccessfully pressure loan elimination far carried required unsterilised sound also 582 distribution related consultation but too hungary over reaching committee’ federal largely fallen eligibility envisaged geographic agreement IMF’ prevent improving tendency impetu attempting accordance migrant repatriation assume pay historical like layoff collect receive administrative fund instalment especially include ha cut 352 eased limiting coming europe stronger compulsory cash reliability depositor rise 500 based conflict residual compensating distortive favourable lagged frost depend unit foreseen priority made field deposit completion 200310 ised 687 greater such shape played degree equivalent coinciding levie 2190 supplier users’ current bop discussed comfortable DEM june exception falling conformity 620 successfully turbulent chamber member programme repaid PRFG cancelled economic time maintain round evaluate depreciated communitie COMMISSION strengthen 1997— OVERVIEW REPORT individually framework 732 expenditure prone serie applie procurement grinding complex prudential nine closed explaining showed 270 international largest represent housing reaction turned 2007 dominant reason element auction 103 TOTAL embarked apart macro achieve competitivenes approve disagreement blockage production buoyant boom gradual capitalized modernised 11202 deflation useful complying reliant declining pushing revocation contributed continue IFC grant sufficiently band 143 weaknes use identifying markedly ensuring WNISEF despite uruguay PARLIAMENT until 384 shrunk bidder maker achievement fluctuated herzegovina macedonian phasing inflationary weighted israel confidence pricing VAT chairperson 1990’ conference mentioned aim suspended 321 bill facility unprecedented essential march brewery borrowing SAA 863 momentum establish observed 282 chaired growth 1137 established mean numerou began moldova' textile spent simultaneou NBS regulatory carrie swap scope issued releasing booming agencie efficiency range returned medium root particularly moved effect transmission declined credible jul lay romania’ gain romania placing major place nikšić above USA help competition migrants’ combined 185 play cope recommend aid modest €244 million constraint deisgnated targeting concessional custom recurrent remittance accelerate consistently regional 742 widened verified reduce studied board land 4086 FIPA activity retail placed setting disbusement thank issuance 834 type 285 authority outstanding MONTENEGRO observer proofing ended check cow context FYROM situation FRY endorsed note supported bilateral there interfering keeping market lari 180 western faced 1877 south formerly surging top ADB front acquisition eurasian certain weakened occur 444 pursuant meeting directly amount entrepreneurship comfortably destination marked discouraging 136 confirmed inter few government price should ANNEXES discus selected debt officially liquid pace interest poor hide mineral resulting properly recipient build settlement index beneficiarie 860 PRGF proposed off diversified beneficiary NPP additional 187 assumption person ceyhan aimed reformed reporting supplemental positively hydroelectric methodologie perception line infrastructure bosnia 108 dollar result 330 excise dec realignment registration reflecting liaison pointing tbilisi grace detail giant need amounted 682 375 per outside 155 certificate CARDS €70 physical 2200 working margin difficult indicated 5023 stemming program reform stabilising bondholder power code although period claim statute important old conslidated owing reactivation 175 584 comparison all dispersion vigorou 2006 upswing notable red drought total development limitation support submit 307 factor including control car created bureau february itself complete 554 552 agriculture mostly deficit eurobond agree negative institutional transport kyrgyz solely budget assisting geographical below during sentiment bread matav encountered 229 ministry temporary touche recently depth mandated resolution revised execution basi writing call discriminate environment €105 rising capital underline steel anomaly informal receivable “flow” portfolio relative contract open arrear significant extended magnitude participating syndicated neutral croatia contained attributed 284 extraction diminishing post 808 legislation they czech accelerated adopt spanish fairly 1406 tranche moldova levelled leu russia aiming remarkable micro evolving CONTENTS €48 summarise amongst annex weak unrecorded according region contributing bulldozer cycle pari 290 serbian lengthy staff release romanian promotion defining NGO’ €30 submitted 655 pick consisting supervised main 421 upward classification summarised scrap basic capita drive broadly ante substantially 597 receiving acces “conditional newly 242 identifie corruption date concerned opening extend subject nevertheles marketing permanent energy system bankruptcy month uncertain float intermediate widening €12 isolated model optional national EBRD reserve policy tightened stand pushed addition 135 145 facilitie risk cancelling care abolition addressed exemptions6 negotiating beginning crisi exemption budgetary rigorou rank slow highly restructuring measured benefit beside study affect accompanying unchanged climate case implemented PRSP regime €110 reportedly slight reactor mobilize encompassing shoe effectively attract shevardnadze integrated RS down about intermediation 120 CPI crude modernisation 4920 transitory together 1450 animal technical 200 own extra 161 east regulating monitoring security improved FTA TABLE monetary costly representing operation transportation sounder yield DM active ethnic accounting impact formulation achieved manufacturing 1006 economie oil 372 TAJIKISTAN elusive lei €26 chernobyl currently satisfactory surge KM farm complementing waiver successive added collection home decisively ease provided large proceed relatively acceleration attempt reversed nuclear methodological budgeted chemical strain transitional monitor abroad prudent long fulfilment credit force measure initial become monitored algeria took disbursement consolidated expect central 1013 letter consideration MACRO several communal 511 operator 899 commission assistance pervasive sovereign simplify generation lead discipline might corporate record stabilisation 3405 weaknesse sixty tend EDPRP stable mechanism welfare corresponding council assesse vulnerability 355 discussion water 555 challenging guarantee started 195 2005 concession moderate america collaboration depreciation combating FDI slowed second scheme 423 nov october baltic reported furthermore sustainable work statistic indicator €40 lithuania sell conducted service whether three harmonisation phased april reference surged activitie mix euratom 705 governance two EXCEPTIONAL 1432 XI each circuit maturitie wherea role exposing court backed 106 203 asses it attention oversubscribed consultative WB mixed liquidity 268 full identification stock progressively strengthened finished half fifth efficient close exceptionally limit factorie available 238 approved customer however accompanied grow double unusually consequently telecom output accession one minimum stimulu mission find employee foresee restraint estimated emphasised prepare decision renewable 482 allowed site year institution adjara net 909 budgeting scheduling environmental among 450 considered pension promoted transparent surplu presidential approval 146 sep closure 882 proportion january decree addressing competitive policie private light requesting listed title poverty rule objective still ga cover will 325 skin mou covering firm judiciary average renewed interesr network deceleration exempted accounted merchandise multilateral future cause very somoni cancellation ALBANIA problem MSRD expertise grid tight 160 dismantle signed component became percent amounting thereby 410 equipment 189 III republika 480 indeed bringing GEORGIA demand ratio payer moldovan sizeable then dominated lincy coverage governmental fev direct interference 773 billion srpska YUGOSLAV civil SOE monetisation thermal chisinau deep due pending collected increased frequent six independent moreover adoption convened MOLDOVA food often reflect replacement raw €18 decline €65 similar indice difficulty 1995 summer adequacy hold precise 2780 disbursed indicate same slower rating free factory proces allow temporarily larger attributable campaign sent 255 president tranching transition sector impressive doubled entity shortage slowing enforce raised spread 510 393 deteriorated given ensure inimum yet hike 1128 analysi 250 protest encouraged deterioration separate departing official 130 principal underpinned article SAF between space restrictive residential undervalued authorising heating territory parallel put corporation privatising aluminium province sterilized simplifie though opportunitie sized operating acute branch thought fuel les offer tajikistan’ 939 continuing TO 6170 taxable abbreviation 140 exces adequate doe OJ controlled ukrainian pyramid public offshore elaboration finalised fully eastern essentially entry paving STATUS taking 4380 flagship day ABBREVIATIONS exceeding 115 lowered performing reflected must eleven body optimistic able path using single tighten memorandum accelerating PSAL CBBH COMMUNITIES since salarie chamber—the gap FOREX IDA 1996 currencie unlimited signature ever sale compensate fourth consumer appeared enterprises’ encouraging inability compare clearly serviced scheduled lost fuelled supposedly clearance hampered €35 latvia limited unfriendly exceeded prohibited completed 3305 suffered within obtained led actively tariff concluded organised jun obtain organisational apparently somewhat ready enhanced proceeding 2004 comparability ANNEX 702 FESAL processing track domestic unify 1st turkmenistan because condition alleged 455 markets’ spain legal liquidating privatisation altogether bank level covered automobile smaller fulfil asked tendering” 592 judicial recalled themselve spring azot pledging mar management complicated federation confirm 219 slightly revoke II DATES precautionary broad 206 SAC5 entitie exaggerated alia armenian originally them 220 assassination used EN considerable when 572 deprogrammed responsible background functioning ground reached moratorium reconsider wage challenge proposal uneven finance revenue distributor enforcement unsolved investor unsuccessful scrupulously quickly standstill addres hence conduct accept weaken resumption rooted posted further contributor sign base change BTC november developing georgia summary 683 floating initially 312 ROMANIA sold instability statu step regulation resignation projection 3206 TAT implying 800 revision comprehensive hampering pas pertaining administration negotiated promising ukraine' roughly adjusted unifie capacity point hand performance PCA gained strategic €900 flow compliance taxed 000 authorisation translate analytical expectation small found municipalitie association visible instead dutie fulfilling €200 former liberalised lending repatriated plant nearly low extension 369 through sixth while succes reviewing fluctuation clear take USD sunflower developed 1108 minimize 610 branche licensing formal transfer harmonised school belaru maintained 1994 resuming suffer finally amendment government' slovakia fell redundant stepped utilised introducing once surrounding alleviate persisting €10 kiev bucharest graph 150 9645 strategy purpose 245 units” persistent occupational expired baku georgia’ prospect decreased accumulation successful present apr republic minimal SMOU bodie intervention see 1619 ambitiou pose robustly relaxed joined audit stem 208 ministrie refinerie intellectual weather acros interim exhibit swapped common difficultie either lombard health throughout review tried commitment mas russian enjoy ECU gradually decompression rehabilitation COUNCIL general maximum merger agreed ukraine authorised flexible EUROPEAN five task EUR prioritie closer relaxation montenegro club propose 880 macedonia prepared list out repealing projected modified seem leave stage core section consist size excl discriminatory spending unequivocal side busines 693 slowdown disconnect naftaga membership organisation acting enforcing social governments' balance EIB modern stabilise safety short gold fraud paid convertible majority asset banks’ 190 carry banka €22 551 involvement upgraded reconstruction ITA NB dealing transparency existing appreciation eighteen require consolidate medzamor requirement stalled contribution head broaden latest noted COMMUNITY 639 uncertaintie €130 highest brought granted aegi 216 thing around along not VIII mark prioritisation companie foundation strict redefined remain geared division drop equity quarter underground selection albania’ 304 severe reduced live soundnes remained standard community 1009 consumption before enacted FINANCIAL privilege disabled inception barrier room high parliamentary first ‘strategic’ convertibility overall sub candidate structure 2003