Republic of Latvia: Selected Issues Paper

IMF Staff Country Reports, June 16, 2016

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Republic of Latvia: Selected Issues Paper

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Bibliographic details

• Published: June 16, 2016
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781475575668.002

Purpose and scope

• Aim: to examine selected issues related to Latvia’s economic development.
• Publication date: June 16, 2016.
• Publication series: IMF Staff Country Reports, Country Report No. 2016/172.
• Pages: 35.

Key findings on the post-2007 adjustment

• Latvia experienced a large macroeconomic adjustment in the aftermath of the crisis in 2007.
• The adjustment was characterized by internal devaluation via a combination of wage restraint and productivity gains.
• Latvia’s creditless recovery has taken unusually long to turn compared to international experience.
• Although lack of credit has not undermined recovery so far, support from the financial sector will be crucial for its continuation going forward.

Policy emphasis and recommendations

• Emphasis on resuscitating credit growth is key to maintaining recovery.
• Focus should be on facilitating access to credit for small- and medium-sized enterprises and first-time borrowers, where market failures are the largest.

Subject areas and keywords (as provided)

• Subjects: Bank credit, Banking, Credit, Labor productivity, Money, Production, Productivity, Total factor productivity.
• Keywords: Baltics, Bank credit, CR, Credit, credit growth, export orientation, firm, firm level difference, firm productivity, firms TFP, Global, ISCR, Labor productivity, Latvia, lending, NRD bank, oriented firm, Productivity, risk model, Total factor productivity.

Publication identifiers

• DOI: https://doi.org/10.5089/9781475575668.002
• Volume: 2016
• Issue: 172
• Stock No: 1LVAEA2016002
• ISBN: 9781475575668
• ISSN: 1934-7685

Republic of Latvia: Selected Issues Paper, IMF Staff Country Reports, June 16, 2016.

Content in this bundle

• Republic of Latvia: Selected Issues Paper; IMF Country Report 16/172; May 17, 2016
  • Republic of Latvia: Selected Issues Paper; IMF Country Report 16/172; May 17, 2016 (Markdown version)
  • Republic of Latvia: Selected Issues Paper; IMF Country Report 16/172; May 17, 2016 (PDF)