Republic of Latvia: First and Second Reviews Under the Stand-By Arrangement and Request for Waiver of a Performance Criterion

International Monetary Fund

No 2002/149, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper focuses on the Republic of Latvia’s First and Second Reviews Under the Stand-By Arrangement and a Request for a Waiver of a Performance Criterion. Latvia has continued to follow prudent macroeconomic policies. All performance criteria under the IMF-supported program have been observed—except that the end-December 2001 fiscal deficit ceiling was exceeded by 0.2 percent of GDP because of local government budget overruns. Key financial sector indicators suggest no major vulnerabilities at this time. The current account deficit remains the main risk to Latvia’s economy.

Keywords: ISCR; CR; deficit; government; auction result; June outcome; June; staff appraisal; privatization receipt; Latvia well; Current account deficits; Budget planning and preparation; Government debt management; Western Europe; Baltics; Europe; Global (search for similar items in EconPapers)
Pages: 59
Date: 2002-07-18
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