Republic of Latvia: First Post-Program Monitoring Discussions
IMF Staff Country Reports, July 16, 2012
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- Republic of Latvia: First Post-Program Monitoring Discussions
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Bibliographic details
- Published: July 16, 2012
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475506488.002
Overview and context
- This collection of papers presents the First Post-Program Monitoring Discussions focusing on economic development in the Republic of Latvia.
- Latvia successfully completed its EU-IMF-supported program in December 2011.
- As part of the program, Latvia implemented fiscal consolidation measures of more than 15 percent of GDP.
- Executive Directors have welcomed Latvia’s economic recovery since the crisis.
- Directors have commended the remarkable fiscal consolidation and have emphasized the need for continued prudence to maintain fiscal and debt sustainability.
Key findings and indicators
- Fiscal consolidation measures implemented: more than 15 percent of GDP.
- Completion of EU-IMF-supported program: December 2011.
- Executive Directors’ assessment: welcomed economic recovery and commended fiscal consolidation; emphasized continued prudence to maintain fiscal and debt sustainability.
- Subject coverage includes: Banking, External debt, Financial institutions, Fiscal policy, Fiscal stance, Inflation, Loans, Prices, Public debt.
- Keywords included in the publication: Baltics, core inflation, CR, deficit, discussion, economy, Fiscal stance, Global, government, headline inflation, IMF staff estimate, Inflation, ISCR, Latvia's economy, Latvian authorities, Loans, Maastricht criterion.
Policy implications and recommendations
- Maintain fiscal prudence to preserve fiscal and debt sustainability following the substantial consolidation measures.
- Continue monitoring macroeconomic developments to support ongoing recovery post-program.
- Ensure financial sector and public debt policies remain aligned with sustaining recovery and meeting Maastricht and other relevant criteria (as highlighted in the publication keywords).