Republic of Latvia: Second Review and Financing Assurances Review Under the Stand-By Arrangement, Request for Extension of the Arrangement and Rephasing of Purchases Under the Arrangement and Request for Waiver of Nonobservance and Applicability of Performance Criteria

International Monetary Fund

No 2010/065, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses key findings of the Second Review and Financing Assurances Review Under the Stand-By Arrangement for Latvia. The sharp economic downturn is starting to bottom out, although recovery has not yet begun. The authorities have implemented the June 2009 supplementary budget, and met with a wide margin the end-September performance criterion on the adjusted primary balance. The continuous performance criterion on external payments arrears was missed by a small amount, which the authorities expect to resolve soon.

Keywords: ISCR; CR; GDP; government liquidity support; end-December performance criterion; financial market condition; Latvia; IMF's support; IMF's financial support; Fiscal stance; Loans; Global (search for similar items in EconPapers)
Pages: 94
Date: 2010-03-15
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