ABSTRACT
System transformation has created varied opportunities for economic growth in Central and East European countries (CEECs), even though an economic policy compatible with the 'Washington consensus' was applied across the region. The primary goal of the CEECs' foreign economic policy was to adjust the volume of imports to export possibilities. Efforts to develop a 'hardware' global economic policy based on International Monetary' Fund and World Bank recommendations produced unsatisfactory results in Central and Eastern Europe. The countries of Central and Eastern Europe underwent a radical systemic transformation for the first time at the turn of the 1940s and the 1950s when for political reasons a market economy was replaced with a centrally planned economy. Import charges in the market economy determine the level of the domestic price of imported goods. The organization was established in 1949 to facilitate adjustment of the sizes and structures of foreign trade pursued by its member countries to the needs and opportunities of their economies.
