Republic of Lithuania: Staff Report for the 2009 Article IV Consultation

International Monetary Fund

No 2009/322, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2009 Article IV Consultation highlights that the Lithuanian economy is undergoing a severe adjustment, after years of rapid economic growth and financial integration. With the global financial crisis, the unwinding of the imbalances accumulated during the boom has led to a sharp economic contraction. Capital inflows came to a halt in late 2008 and reversed in 2009, and the current account deficit turned into a surplus. Executive Directors have recognized the authorities’ strong commitment to maintain the currency board arrangement, which has served as a useful macroeconomic anchor.

Keywords: ISCR; CR; GDP; flash GDP estimate; estimate; report; credit; headline GDP growth; flash estimate; credit growth; foreign currency; growth projection; Fiscal consolidation; Loans; Wages; Global; Baltics; Eastern Europe (search for similar items in EconPapers)
Pages: 57
Date: 2009-12-04
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