Republic of Latvia: Staff Report for the 2000 Article IV Consultation and First Review Under the Stand-By Arrangement
July 10, 2000
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With the resumption in growth, the economic recession triggered by the Russian crisis has ended. Additional efforts will be needed to reduce the current account deficit and increase its financing. The IMF staff commend the intention to streamline tax benefits granted to enterprises and to eliminate the benefits that are inconsistent with EU regulations. Financial sector development is imperative for continued external sustainability and economic growth. The government’s ability to implement the privatization program and address the remaining impediments to an enabling business climate is crucial.
Subject: Balance of payments, Banking, Commercial banks, Current account deficits, Economic sectors, Expenditure, Financial institutions, Foreign direct investment, Pension spending, Privatization
Keywords: Baltics, Commercial banks, consumer inflation, contingency expenditure reduction, CR, Current account deficits, draft law, end-June target, end-June target of LVL, Foreign direct investment, government, ISCR, Latvian authorities, May, minister of finance, Pension spending, Privatization
Pages:
86
Volume:
2000
DOI:
Issue:
078
Series:
Country Report No. 2000/078
Stock No:
1LVAEA0012000
ISBN:
9781451824438
ISSN:
1934-7685
Notes
Included with the Staff Report are the text of Public Information Notice No. 00/48 -- IMF Concludes Article IV Consultation with Latvia and a statement by Olli-Pekka Lehmussaari, Executive Director for the Republic of Latvia, June 30, 2000
