European Parliament Library

Republic of Latvia :, Request for Stand-By Arrangement: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Latvia

This paper discusses a request from the Republic of Latvia for a Stand-By Arrangement. The Latvian authorities are launching a decisive economic reform program and are seeking substantial international financial assistance to quell the crisis. With international reserves falling precipitously and reserves barely covering base money, the authorities are now seeking IMF assistance under the emergency financing procedures. The proposed IMF-supported program is part of a coordinated international effort. The program is centered on maintaining Latvia’s exchange rate peg through strong domestic policies and substantial international financial assistance
Table Of Contents
Contents; I. Introduction; II. Economic Developments; A. Background; B. Recent Developments; C. The Current Crisis; III. The Authorities' Program; A. Monetary and Exchange Rate Policy; B. Macroeconomic Framework; C. Financial Sector Reform; D. Private Debt Restructuring; E. Fiscal Policy; F. Structural Reform and Incomes Policy; IV. Program Modalities; A. Access; B. Capacity to Repay the Fund and Risks to the Program; C. Program Monitoring and Conditionality; V. Staff Appraisal; Text Boxes; Figures; Tables; Attachments; Attachment I. Latvia: Letter of Intent
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (103 p.)
Specific Material Designation
Form Of Item

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