Republic of Latvia: Second Review and Financing Assurances Review Under the Stand-By Arrangement, Request for Extension of the Arrangement and Rephasing of Purchases Under the Arrangement and Request for Waiver of Nonobservance and Applicability of Performance Criteria
March 15, 2010
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This paper discusses key findings of the Second Review and Financing Assurances Review Under the Stand-By Arrangement for Latvia. The sharp economic downturn is starting to bottom out, although recovery has not yet begun. The authorities have implemented the June 2009 supplementary budget, and met with a wide margin the end-September performance criterion on the adjusted primary balance. The continuous performance criterion on external payments arrears was missed by a small amount, which the authorities expect to resolve soon.
Subject: Banking, Expenditure, External debt, Financial institutions, Fiscal policy, Fiscal stance, Loans, Public debt
Keywords: CR, end-December performance criterion, financial market condition, Fiscal stance, GDP, Global, government liquidity support, IMF's financial support, IMF's support, ISCR, Latvia, Loans
Pages:
94
Volume:
2010
DOI:
Issue:
065
Series:
Country Report No. 2010/065
Stock No:
1LVAEA2010001
ISBN:
9781451977165
ISSN:
1934-7685
