Republic of Latvia: Staff Report for the 2000 Article IV Consultation and First Review Under the Stand-By Arrangement

Author: International Monetary Fund

With the resumption in growth, the economic recession triggered by the Russian crisis has ended. Additional efforts will be needed to reduce the current account deficit and increase its financing. The IMF staff commend the intention to streamline tax benefits granted to enterprises and to eliminate the benefits that are inconsistent with EU regulations. Financial sector development is imperative for continued external sustainability and economic growth. The government's ability to implement the privatization program and address the remaining impediments to an enabling business climate is crucial.

Volume/Issue: Volume 2000 Issue 078

Publication date: July 2000

ISBN: 9781451824438

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Business and Economics , Banks and Banking , Exports and Imports , Economics- Macroeconomics , Public Finance , ISCR , CR , contingency expenditure reduction , government , May , minister of finance , end-June target of LVL , end-June target , draft law , consumer inflation , Latvian authorities , Current account deficits , Commercial banks , Privatization , Foreign direct investment , Pension spending , Baltics

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Summary

With the resumption in growth, the economic recession triggered by the Russian crisis has ended. Additional efforts will be needed to reduce the current account deficit and increase its financing. The IMF staff commend the intention to streamline tax benefits granted to enterprises and to eliminate the benefits that are inconsistent with EU regulations. Financial sector development is imperative for continued external sustainability and economic growth. The government’s ability to implement the privatization program and address the remaining impediments to an enabling business climate is crucial.