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

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.
Publication date: December 2009
ISBN: 9781451824223
$18.00
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debt , deficit , interest , external debt , budget

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