Republic of Latvia: First and Second Reviews Under the Stand-By Arrangement and Request for Waiver of a Performance Criterion
July 18, 2002
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This paper focuses on the Republic of Latvia’s First and Second Reviews Under the Stand-By Arrangement and a Request for a Waiver of a Performance Criterion. Latvia has continued to follow prudent macroeconomic policies. All performance criteria under the IMF-supported program have been observed—except that the end-December 2001 fiscal deficit ceiling was exceeded by 0.2 percent of GDP because of local government budget overruns. Key financial sector indicators suggest no major vulnerabilities at this time. The current account deficit remains the main risk to Latvia’s economy.
Subject: Balance of payments, Budget planning and preparation, Current account deficits, Expenditure, Government debt management, Public financial management (PFM), Revenue administration
Keywords: auction result, Baltics, Budget planning and preparation, CR, Current account deficits, deficit, Europe, Global, government, Government debt management, ISCR, June, June outcome, Latvia well, privatization receipt, staff appraisal, Western Europe
Pages:
59
Volume:
2002
DOI:
Issue:
149
Series:
Country Report No. 2002/149
Stock No:
1LVAEA0042002
ISBN:
9781451824551
ISSN:
1934-7685
