Municipal Credit in Eastern Europe

Juliana H. Pigey, George E. Peterson

This paper reviews the investment finance situation and municipal credit activity in four East European countries: the Czech Republic, Hungary, Poland, and the Slovak Republic in 1994. It provides a brief overview of Central Government initiatives that have been enacted in support of municipal credit; an estimate of the magnitude of borrowing by municipalities in the four countries; an explanation of why lending has remained limited to date; and a discussion of major issues that have emerged in establishing national municipal credit systems.

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