Republic of Lithuania: 2010 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Lithuania

International Monetary Fund

No 2010/201, IMF Staff Country Reports from International Monetary Fund

Abstract: Lithuania experienced a severe output decline. A large consolidation contained the deterioration in the fiscal deficit and safeguarded market financing. Further fiscal consolidation is needed to place deficits and debt on a sustainable path. Tackling the deficit in the social security system and expanding the revenue base will achieve adjustment in a sustainable, pro-growth, and equitable manner. A sustained recovery also hinges on the ability of the economy to rebalance toward tradables. The rising level of unemployment makes it imperative to advance with structural reforms.

Keywords: ISCR; CR; authority; capital; deficit; State privatization fund; Lithuanian authorities; financial crises prevention; banks capital; executive board discussion; liquidity counterbalance capacity; IMF's effort; Nonperforming loans; Loans; Exports; Credit; Global; Baltics (search for similar items in EconPapers)
Pages: 58
Date: 2010-07-09
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