Republic of Latvia: Staff Report for the 2015 Article IV Consultation

May 4, 2015

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Republic of Latvia: Staff Report for the 2015 Article IV Consultation, (USA: International Monetary Fund, 2015) accessed November 22, 2024

Summary

This 2015 Article IV Consultation highlights that Latvia’s strong recovery has recently slowed in the face of sluggish growth in the euro area and deteriorating economic conditions in Russia amid rising geopolitical tensions. GDP growth decelerated to 2.4 percent in 2014 reflecting weak demand and the prolonged closure of a steel manufacturer. In 2015, the weak external environment, particularly the sharp slowdown in Russia, will continue to weigh on exports and investment. This is expected to be mitigated, but not fully offset, by higher disposable income owing to lower oil prices and robust real wages, the reopening of the steel manufacturer, and the accommodative monetary stance of the European Central Bank.

Subject: Banking, Commercial banks, Credit, Exports, External debt, Income, International trade, Money, National accounts, Public debt

Keywords: Baltics, Consumer price inflation, CR, Credit, Current account, Euro, Exchange rate, Executive board assessment, Exports, Financial asset, Fiscal policy, GDP, Headline inflation, Income, ISCR, Latvia, Liability position vis-à-vis nonresident, Structural unemployment

Publication Details

Pages:

48
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/110
Stock No:

1LVAEA2015001
ISBN:

9781484355626
ISSN:

1934-7685

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