Republic of Lithuania: Staff Report for the 1999 Article IV Consultation

August 6, 1999

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Republic of Lithuania: Staff Report for the 1999 Article IV Consultation, (USA: International Monetary Fund, 1999) accessed September 20, 2024

Summary

This 1999 Article IV Consultation highlights that Lithuania has made impressive progress in macroeconomic stabilization and market transition. Following the introduction of the currency board in 1994, inflation has come down rapidly, and market reforms have provided a sound basis for economic recovery. The economy cooled down rapidly starting in the third quarter of 1998, while inflation continued on a downward trend. The current account deficit widened in the second half of 1998 but subsequently contracted. Real GDP growth came to a halt in the fourth quarter of 1998.

Subject: Balance of payments, Banking, Currency boards, Current account deficits, Economic sectors, External debt, Foreign exchange, Government debt management, Privatization, Public financial management (PFM)

Keywords: Authority, Baltics, Budget revenue shortfall, CR, Currency boards, Current account deficits, Government, Government debt management, Government's forecast, IMF staffs recommendation, ISCR, Privatization, Privatization proceeds, Trade shock, Western Europe

Publication Details

Pages:

61
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 1999/073
Stock No:

1LTUEA0011999
ISBN:

9781451823950
ISSN:

1934-7685

Notes

Included with the Staff Report are the text of Public Information Notice No. 99/68--IMF Concludes Article IV Consultation with Lithuania and a Statement by Kai Aaen Hansen, Executive Director, on July 26, 1999.

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