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The book is about economic developments and policies in the first decade or so after the independence of the fifteen countries that emerged from the dissolution of the Soviet Union in 1991. From 1992 to 2003, the author was in charge of the IMF's work on the fifteen countries that emerged from the former Soviet Union. In those years, the countries were beginning the transition from the Soviet central planning system towards market economies. The book focuses on the role of the IMF in this transition. It explains what the IMF was trying to do and why.
John Odling-Smee is a retired economist who taught economics at Oxford University, advised the governments of Ghana and the UK on economic policy and headed the department at the International Monetary Fund responsible for relations with the fifteen countries of the former Soviet Union.
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