Republic of Lithuania: Staff Report for the 2009 Article IV Consultation

December 4, 2009

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Republic of Lithuania: Staff Report for the 2009 Article IV Consultation, (USA: International Monetary Fund, 2009) accessed December 22, 2024

Summary

This 2009 Article IV Consultation highlights that the Lithuanian economy is undergoing a severe adjustment, after years of rapid economic growth and financial integration. With the global financial crisis, the unwinding of the imbalances accumulated during the boom has led to a sharp economic contraction. Capital inflows came to a halt in late 2008 and reversed in 2009, and the current account deficit turned into a surplus. Executive Directors have recognized the authorities’ strong commitment to maintain the currency board arrangement, which has served as a useful macroeconomic anchor.

Subject: Banking, Credit, External debt, Financial institutions, Fiscal consolidation, Fiscal policy, Labor, Loans, Money, Real effective exchange rates, Wages

Keywords: Baltics, CR, Credit, Credit growth, Eastern Europe, Estimate, Fiscal consolidation, Flash estimate, Flash GDP estimate, Foreign currency, GDP, Global, Growth projection, Headline GDP growth, ISCR, Loans, Report, Wages

Publication Details

Pages:

57
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2009/322
Stock No:

1LTUEA2009001
ISBN:

9781451824223
ISSN:

1934-7685

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