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Republic of Latvia

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  • International Monetary Fund
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    Abstract

    Strong policy implementation under the Stand By-Arrangement (SBA) has contributed to Latvia’s economic recovery and put attainment of Maastricht criteria for euro adoption within reach. The government has continued to achieve substantial fiscal savings and strengthened its active labor market policy. Executive Directors stressed the need to implement plans for reforming state-owned banks and to promote market-based debt restructuring. Directors advised to maintain strong budget implementation in 2011 and focus on reducing taxes in the 2012 budget. They encouraged to enhance efficiency of state-owned enterprises to keep inflation under control.

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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=24902
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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Staff Country Reports with number 11/126.

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    Length: 91
    Date of creation: 08 Jun 2011
    Date of revision:
    Handle: RePEc:imf:imfscr:11/126

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    Postal: International Monetary Fund, Washington, DC USA
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    Web page: http://www.imf.org/external/pubind.htm
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    Web: http://www.imf.org/external/pubs/pubs/ord_info.htm

    Related research

    Keywords: Bank reforms; Bank restructuring; Budget deficits; Economic indicators; Economic recovery; Fiscal reforms; Performance criteria waivers; Phasing of purchases; Staff Reports; Stand-by arrangement reviews; external debt; current account; public debt; fiscal balance; tax increases; debt sustainability; fiscal consolidation; public sector debt; fiscal responsibility; fiscal responsibility law; fiscal adjustment; net external debt; debt dynamics; balance of payments; spending cuts; fiscal balances; external debt sustainability; fiscal performance; external financing; current account deficit; short-term debt; debt stock; fiscal discipline; private debt; fiscal policy; debt restructuring; capital expenditure; current account balance; net debt; tax revenue; central bank; budget support; fiscal policies; repayments; domestic currency; budget law; primary current expenditure; primary deficit; expenditure cuts; foreign debt; debt service; debt ratio; fiscal targets; local government spending; fiscal measures; tax credit; current account surplus; fiscal effort; repurchases; interest expenditure; tax revenue increase; reserve assets; external liability; tax base; fiscal savings; fiscal outlook; fiscal assumptions; budget measures; tax revenues; fiscal criterion; budget deficit; domestic saving; total external debt; fiscal sustainability; taxation; tax system; long-term debt; domestic financing; budgetary process; debt overhang; government debt; government spending; flat tax; tax cut; fiscal losses; crisis countries;

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