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The Council for Mutual Economic Assistance (Russian: Совет экономической взаимопомощи, Sovet ekonomicheskoy vsaymopomoshchi, СЭВ, SEV, English abbreviation COMECON, CMEA, or CAME), 1949–1991, was an economic organization comprising the countries of the Eastern Bloc along with a number of communist states elsewhere in the world. The Comecon was the Eastern Bloc's reply to the formation of the Organization for European Economic Co-operation in western Europe.[1]
The descriptive term was often applied to all multilateral activities involving members of the organization, rather than being restricted to the direct functions of Comecon and its organs.[2] This usage was sometimes extended as well to bilateral relations among members, because in the system of socialist international economic relations, multilateral accords—typically of a general nature—tended to be implemented through a set of more detailed, bilateral agreements.[1]
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Debt Consolidation
The descriptive term was often applied to all multilateral activities involving members of the organization, rather than being restricted to the direct functions of Comecon and its organs.[2] This usage was sometimes extended as well to bilateral relations among members, because in the system of socialist international economic relations, multilateral accords—typically of a general nature—tended to be implemented through a set of more detailed, bilateral agreements.[1]
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Debt Consolidation