Hard currency loans to Serbia, Estonia and Latvia are the most at risk of default in central and eastern Europe, according to the International Monetary Fund. The IMF says that Western banks risk losing US$160 billion of a total US$1.6 trillion placed in the central and eastern European region, daily …

CHISINAU – The ruling Communist Party of the Republic of Moldova has won the majority of seats in parliament but will most likely have to reach an agreement with the opposition when the country’s president is elected. Iurie Ciocan, the secretary of Moldova’s Central Electoral Commission, announced the final results …

Moldova’s political crisis centres largely on one man – Vladimir Voronin, the veteran president and leader of the ruling Communist party. After serving since 2001 and completing two terms, Mr Voronin is obliged to stand down. But the 67-year-old former Soviet communist party official is determined to stay in power, …