IMF and the Baltics: A Decade of Cooperation

Adalbert Knöbl and Richard Haas

No 2003/241, IMF Working Papers from International Monetary Fund

Abstract: The paper is an economic history of the IMF’s involvement in the Baltic states. It describes and analyzes the initial economic stabilization; the period of consolidation and recovery; the effects of the Russian crisis of 1998; and the current growth phases of Lithuania, Latvia, and Estonia. There is also an assessment of cooperation with the Fund based on interviews with a number of ex-officials. The major conclusion is that the Baltics have been so successful because of their early commitment to change the stabilization and reform policies needed for successful transition, and their ownership of their IMF-supported programs.

Keywords: WP; Fund staff; country authorities; Baltic country; monetary policy; policy advice; currency reform; currency board; transition to market economy; Lithuanian authorities; authorities of the logic; Estonian authority; Latvian authorities; government intervention; Budget planning and preparation; Currency boards; Structural reforms; Currencies; Baltics (search for similar items in EconPapers)
Pages: 27
Date: 2003-12-01
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Citations: View citations in EconPapers (1)

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