Republic of Latvia: 2012 Article IV Consultation and Second Post-Program Monitoring Discussions

January 28, 2013

Preview Citation

Format: Chicago

Republic of Latvia: 2012 Article IV Consultation and Second Post-Program Monitoring Discussions, (USA: International Monetary Fund, 2013) accessed November 26, 2024

Summary

Latvia has rebounded from the crisis, after successfully undertaking a difficult adjustment program. The recovery has been well balanced between external and domestic demand. The labor market is improving but unemployment is still high. Past consolidation efforts have brought down the fiscal deficit. The banking system is recovering. Nonresident deposits in the banking system have been expanding rapidly. Economic growth is expected to weaken slightly in 2013, before picking up later. Euro adoption in 2014 appears within reach, subject to some technical uncertainties.

Subject: Banking, Credit, External debt, Financial institutions, Fiscal policy, Fiscal stance, Loans, Money, Public debt

Keywords: CR, Credit, Fiscal stance, Global, ISCR, Latvian authorities, Loans, Maastricht deficit criterion, Obligation, SBA program, Staff appraisal, Staff representative, Statement

Publication Details

Pages:

70
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2013/028
Stock No:

1LVAEA2013001
ISBN:

9781475519839
ISSN:

1934-7685

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