It is just as well that world leaders saw last week’s G20 summit a success in the fight to overcome the global economic crisis. A stark report from the International Monetary Fund, disclosed in Monday’s FT, shows what a tough job they face in one key region – central and eastern Europe.

The analysis, which covers Turkey, as well as the former Communist states, sees gross domestic product plunging 2.5 per cent this year, against a 4.25 per cent growth forecast last autumn.