## IMF and the Baltics: A Decade of Cooperation

_IMF Working Papers, December 1, 2003_

## Source details

**Canonical URL:** [IMF and the Baltics: A Decade of Cooperation](https://www.imf.org/en/publications/wp/issues/2016/12/30/imf-and-the-baltics-a-decade-of-cooperation-16981)

## Other formats

- [Markdown version](/en/publications/wp/issues/2016/12/30/imf-and-the-baltics-a-decade-of-cooperation-16981/index.md)
- [Structured JSON version](/en/publications/wp/issues/2016/12/30/imf-and-the-baltics-a-decade-of-cooperation-16981/index.json)
- [Bundle manifest](/en/publications/wp/issues/2016/12/30/imf-and-the-baltics-a-decade-of-cooperation-16981/bundle-manifest.json)

## Bibliographic details
- Authors: Adalbert Knöbl, Richard D Haas
- Published: December 1, 2003
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451875829.001

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### Summary
- The paper is an economic history of the IMF’s involvement in the Baltic states.
- It describes and analyzes:
  - the initial economic stabilization;
  - the period of consolidation and recovery;
  - the effects of the Russian crisis of 1998;
  - the current growth phases of Lithuania, Latvia, and Estonia.
- Includes an assessment of cooperation with the Fund based on interviews with a number of ex-officials.
- Major conclusion: the Baltics have been so successful because of their early commitment to change the stabilization and reform policies needed for successful transition, and their ownership of their IMF-supported programs.

### Analysis by phase
- Initial economic stabilization
  - Examines the stabilization policies and measures adopted at the outset of transition in the Baltic states.
- Period of consolidation and recovery
  - Analyzes the consolidation of reforms and the recovery trajectory following initial stabilization.
- Effects of the Russian crisis of 1998
  - Assesses how the Russian crisis of 1998 affected the Baltic economies and their reform paths.
- Current growth phases (as of the paper)
  - Describes the growth phases of Lithuania, Latvia, and Estonia following stabilization and recovery.

### Assessment of IMF–Baltics cooperation
- Based on interviews with a number of ex-officials.
- Focuses on ownership of IMF-supported programs and the role of early commitment to stabilization and reform in the Baltics’ success.

### Subject areas and keywords
- Subject:
  - Banking
  - Budget planning and preparation
  - Currencies
  - Currency boards
  - Fiscal policy
  - Foreign exchange
  - Macrostructural analysis
  - Money
  - Public financial management (PFM)
  - Structural reforms
- Keywords:
  - authorities of the logic
  - Baltic country
  - Baltics
  - Budget planning and preparation
  - country authorities
  - Currencies
  - currency board
  - Currency boards
  - currency reform
  - Estonian authority
  - Fund staff
  - government intervention
  - Latvian authorities
  - Lithuanian authorities
  - monetary policy
  - policy advice
  - Structural reforms
  - transition to market economy
  - WP

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## Content in this bundle

- **IMF and the Baltics: A Decade of Cooperation, IMF Working Paper No. 03/241**
  - [IMF and the Baltics: A Decade of Cooperation, IMF Working Paper No. 03/241 (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2003/_wp03241.pdf.md){rel="alternate" type="text/markdown"}
  - [IMF and the Baltics: A Decade of Cooperation, IMF Working Paper No. 03/241 (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2003/_wp03241.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/wp/issues/2016/12/30/imf-and-the-baltics-a-decade-of-cooperation-16981_