Phil spoke to a number of senior figures who were, or are close to the issues involved in seting up the Vienna Initiative. This was the collaboration betwen international institutions and banks to ensure that the 2009 global financial crisis did not spill over into central and eastern Europe. It tackled fears that EU-based banking groups would rush to reduce their debts by selling assets in emerging European countries.
He spoke with senior officials and bankers at the European Bank for Reconstruction and Development, the European Investment Bank, Raiffeisen Bank International, and the Vienna Institute for International Economic Studies. One issue was whether the tensions created out of the Russia/Ukraine situation could unnerve and banks and require a Vienna 3.0. The consensus was not, bgutone should watch this space. The story is here
We wrote and researched two articles for the latest edition of EMEAfinance magazine and website. The first was based on an interview with Tomasz Telma, regional director for Eastern Europe and Central Asia at the International Finance Corporation, the private sector-focused arm of the World Bank Group. With the prices of oil and other commodities hitting new low levels he set out his vision for building a model of long-term sustainable growth for a region that is still seen as an unexploited emerging market. The article can be found here.
In the run-up to the annual meetings of the European Bank of Reconstruction and Development, we looked at the bank’s investment in financial institutions (FI). We spoke with Nick Tesseyman, its managing director for financial institutions, Alexander Saveliev, head of operations and portfolio for FIs as well as with Erik Berglof, who was until recently its chief economist. The article looks at the role that investment in FIs has played over the 25 years from 1991 to 2016 from the initial investments as the countries opened up after the collapse of the Soviet Union, through to the steps taken in the midst of the global financial crisis, to more recent investments in the current tricvy volatile and low-interest rates environment. The article can be found here.