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

International Monetary Fund

No 2012/031, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; government; amount; deficit; fund; revenue projection; World Bank-International Monetary Fund mission; authorities' strategy; Latvian authorities; scenario government debt; exchange rate; Loans; Fiscal stance; Social assistance spending; Europe; Baltics; Global (search for similar items in EconPapers)
Pages: 88
Date: 2012-02-07
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=25709 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2012/031

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().