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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

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  • International Monetary Fund

Abstract

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.

Suggested Citation

  • International Monetary Fund, 2012. "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 Monitorin," IMF Staff Country Reports 2012/031, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2012/031
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    Cited by:

    1. Kiendrebeogo, Youssouf & Assimaidou, Kossi & Tall, Abdoulaye, 2017. "Social protection for poverty reduction in times of crisis," Journal of Policy Modeling, Elsevier, vol. 39(6), pages 1163-1183.
    2. Schrader, Klaus & Laaser, Claus-Friedrich, 2014. "Lettland: Fit für den Euro?," Kiel Discussion Papers 532/533, Kiel Institute for the World Economy (IfW Kiel).

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