ABSTRACT
The World Bank committed loans of at least 7.5 billion dollars to Central Europe for the three-year period up to the end of the fiscal year 1992. During their July 1989 Paris meeting, the G-7 countries devoted special attention to the process of political, social, and economic transformation that was just beginning to gain impetus in Central Europe. They mandated the Commission of the European Communities to coordinate assistance efforts - aimed at restructuring the post-communist economies - by the G-24 countries. Macro-financial assistance, most of it granted by multilateral organizations, has been a crucial form of assistance for all three countries during the implementation of stabilization programs. Technical assistance will play a leading role in the later stages of transition, as balance-of-payments support and stabilization funds have done hitherto. Technical assistance will be critical in sectors where the old system offered few opportunities to keep pace with modern practice.
