Republic of Latvia : Fifth Review Under the Stand-By Arrangement and Financing Assurances Review, Request for Waiver of Nonobservance of a Performance Criterion, and Proposal for Post-program Monitoring

Author/Editor:

International Monetary Fund

Publication Date:

February 7, 2012

Electronic Access:

Free Full text (PDF file size is 1528 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Latvia’s economy continues to recover, but the worsening global outlook is likely to hurt growth. Implementation of the program has made the economy more robust to shocks, but risks remain that could derail the recovery and the goal of euro adoption. Spillovers from the euro area crisis could increase—reducing growth and increasing capital outflows—and complicate plans to tap international capital markets. The authorities’ macroeconomic strategy has centered on substantial wage and price cuts and productivity growth to improve competitiveness and reduce external imbalances.

Series:

Country Report No. 12/31

Subject(s):

English

Publication Date:

February 7, 2012

ISBN/ISSN:

9781463940409/1934-7685

Stock No:

1LVAEA2012001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

88

Please address any questions about this title to publications@imf.org