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Bulgaria: Domestic economic downturn continues, with the new government pledging to maintain a balanced budget in the period 2010-2012. Application for ERM II entry is deferred until early next year

Romania: Political limbo delays disbursement of 3rd IMF tranche; puts fiscal targets at risk

Serbia: Conclusion of 2nd IMF review alleviates external financing concerns; provides hope that the government will go ahead with the necessary fiscal reforms. Serbia will likely file for EU candidate status soon

Poland: Resilience to the global crisis but fiscal worries cloud the outlook

Turkey: Return to positive GDP growth expected in 2010; expectations for a new IMF loan accord on the rise again

Ukraine: Unstable political climate threatens implementation of IMF program