Statement by IMF First Deputy Managing Director John Lipsky on Latvia

Press Release No. 09/212
June 16, 2009

Mr. John Lipsky, First Deputy Managing Director of the International Monetary Fund (IMF), issued the following statement today:

"The fiscal package approved today by the Latvian parliament contains some important and courageous measures. As the ECOFIN Council and the European Commission have stated, we are now engaged in assessing these measures carefully.

“In addition to containing the budget deficit, the policy program will need to ensure a path to medium-term fiscal sustainability and, as IMF Managing Director Dominique Strauss-Kahn has said, should include actions to minimize the impact on vulnerable groups.

“We will continue to work closely with the Latvian authorities, the European Commission, and other international partners to help Latvia overcome this crisis and return to growth."



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