Republic of Latvia Fifth Review Under the Stand-By Arrangement and Financing Assurances Review, Request for Waiver of Nonobservance of a Performance Criterion, and Proposal for Post-program Monitoring

Latvia’s economy continues to recover, but the worsening global outlook is likely to hurt growth. Implementation of the program has made the economy more robust to shocks, but risks remain that could derail the recovery and the goal of euro adoption. Spillovers from the euro area crisis could increa...

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Bibliographic Details
Corporate Author: International Monetary Fund
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2012
Series:IMF Staff Country Reports
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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651 4 |a Lithuania, Republic of 
653 |a Fiscal stance 
653 |a Economic & financial crises & disasters 
653 |a Depository Institutions 
653 |a Public debt 
653 |a Social assistance spending 
653 |a Banks 
653 |a Finance 
653 |a Public finance & taxation 
653 |a Banks and banking 
653 |a Industries: Financial Services 
653 |a Financial institutions 
653 |a General Financial Markets: Government Policy and Regulation 
653 |a Debt Management 
653 |a Debts, Public 
653 |a Fiscal Policy 
653 |a Micro Finance Institutions 
653 |a Debt 
653 |a Exports and Imports 
653 |a Fiscal policy 
653 |a Mortgages 
653 |a International economics 
653 |a International Lending and Debt Problems 
653 |a Debts, External 
653 |a External debt 
653 |a Expenditure 
653 |a Sovereign Debt 
653 |a National Government Expenditures and Welfare Programs 
653 |a Loans 
653 |a Banks and Banking 
653 |a Expenditures, Public 
653 |a Macroeconomics 
653 |a Banking 
653 |a Financial Risk Management 
653 |a Public Finance 
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520 |a Latvia’s economy continues to recover, but the worsening global outlook is likely to hurt growth. Implementation of the program has made the economy more robust to shocks, but risks remain that could derail the recovery and the goal of euro adoption. Spillovers from the euro area crisis could increase—reducing growth and increasing capital outflows—and complicate plans to tap international capital markets. The authorities’ macroeconomic strategy has centered on substantial wage and price cuts and productivity growth to improve competitiveness and reduce external imbalances