Emerging European countries’ asset purchases worked – IMF paper

International Monetary Fund Headquarters 2, Washington, DC
Photo: John Harrington

Asset purchases by central banks in European emerging market economies (EMEs) succeeded in easing market turmoil after the Covid-19 shock, without triggering major side-effects, new research finds.

The paper by the International Monetary Fund’s European department looks at the cases of Croatia, Hungary, Poland, Romania, Serbia and Turkey. These six EMEs all launched asset purchase programmes (APPs) in 2020 in response to the pandemic.

The IMF authors find these policies have been successful

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