Central banks in transition

The last decade has been a time of significant change and upheaval for Turkey and the economies of South-West and Central Asia. Independence gained by former Soviet Union countries has been a major driver of change, and in each case has resulted in the establishment of a new central bank. Many of these were almost immediately confronted with tackling severe hyperinflation, a problem also shared by other countries in the region. Now most of these economies have succeeded in reining in inflation

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