Republic of Lithuania: 2010 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Lithuania

July 9, 2010

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Format: Chicago

Republic of Lithuania: 2010 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Lithuania, (USA: International Monetary Fund, 2010) accessed September 19, 2024

Summary

Lithuania experienced a severe output decline. A large consolidation contained the deterioration in the fiscal deficit and safeguarded market financing. Further fiscal consolidation is needed to place deficits and debt on a sustainable path. Tackling the deficit in the social security system and expanding the revenue base will achieve adjustment in a sustainable, pro-growth, and equitable manner. A sustained recovery also hinges on the ability of the economy to rebalance toward tradables. The rising level of unemployment makes it imperative to advance with structural reforms.

Subject: Banking, Credit, Exports, Financial institutions, International trade, Loans, Money, Nonperforming loans, Public debt

Keywords: Authority, Baltics, Banks capital, Capital, CR, Credit, Deficit, Executive board discussion, Exports, Financial crises prevention, Global, IMF's effort, ISCR, Liquidity counterbalance capacity, Lithuanian authorities, Loans, Nonperforming loans, State privatization fund

Publication Details

Pages:

58
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/201
Stock No:

1LTUEA2010001
ISBN:

9781455203796
ISSN:

1934-7685

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