Baltic Cluster Report
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| Author | : International Monetary Fund. European Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 34 |
| Release | : 2014-05-08 |
| Genre | : Business & Economics |
| ISBN | : 147551865X |
This 2014 Cluster Consultation report examines common themes and challenges facing the three Baltic countries—Estonia, Latvia, and Lithuania. It identifies common features and common challenges, and discusses policies—both national and joint—that could help to address these challenges. The Baltic economies have performed well during the last two decades. The global financial crisis exposed vulnerabilities that had built up in the Baltics, but the postcrisis recovery revealed inherent strengths as well. This report highlights that national policies are necessary to address all of the challenges, but collaboration is also important in some areas.
| Author | : International Monetary Fund. European Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 91 |
| Release | : 2014-05-08 |
| Genre | : Business & Economics |
| ISBN | : 1484378393 |
This Selected Issues paper focuses on the Baltic model, Baltic–Nordic links, and convergence. The Baltic countries form a distinct group within a tightly integrated Nordic–Baltic region. They are following similar approaches to economic policy, broadly in line with those of Northern European and the Anglo-Saxon countries. Their macroeconomic policies are generally robust. The paper examines the possible causes of the creditless recoveries in the Baltic countries. It characterizes their experience in comparison with other episodes of creditless recoveries in both advanced and emerging market economies, and also investigates demand and supply constraints to credit expansion in the Baltics.
| Author | : International Monetary Fund. European Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 34 |
| Release | : 2014-05-08 |
| Genre | : Business & Economics |
| ISBN | : 1484377745 |
This 2014 Cluster Consultation report examines common themes and challenges facing the three Baltic countries—Estonia, Latvia, and Lithuania. It identifies common features and common challenges, and discusses policies—both national and joint—that could help to address these challenges. The Baltic economies have performed well during the last two decades. The global financial crisis exposed vulnerabilities that had built up in the Baltics, but the postcrisis recovery revealed inherent strengths as well. This report highlights that national policies are necessary to address all of the challenges, but collaboration is also important in some areas.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 59 |
| Release | : 2015-04-09 |
| Genre | : Business & Economics |
| ISBN | : 1498344232 |
The Seventh PMR includes: (i) a discussion of progress made over the last year on the actions corresponding to four Management Implementation Plans (MIPs) that were classified as still “in progress” in the previous PMR; and (ii) an assessment of the progress made in achieving the high-level objectives in three areas directly related to those MIPs. In addition, an update on substantive issues related to five older MIPs agreed since 2007 is provided at the end of the report. Three new evaluations have been completed by the IEO since March 2014. In July and August 2015, Management issued the MIPs in response to these evaluations. Given that only a short time has passed since their completion, progress in addressing the actions contemplated in those MIPs will be discussed in the next PMR.
| Author | : International Monetary Fund. Strategy, Policy, & Review Department |
| Publisher | : International Monetary Fund |
| Total Pages | : 120 |
| Release | : 2014-07-30 |
| Genre | : Business & Economics |
| ISBN | : 1498343074 |
| Author | : International Monetary Fund. European Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 51 |
| Release | : 2014-05-08 |
| Genre | : Business & Economics |
| ISBN | : 1484374738 |
This 2014 Article IV Consultation highlights that Lithuania’s economy has entered a broadly favorable trajectory of healthy and balanced growth, but income convergence with Western Europe has a long way to go. With inflation at historical lows and well-advanced repair of public finances damaged by the 2008/09 crisis, meeting the entry criteria seems on track. Financial stability has improved further in 2013, with the capital adequacy ratio exceeding 17 percent and steady progress in reducing nonperforming loans. The main challenge is now resuscitating the sluggish private sector credit growth, which could undermine investment and the recovery if it continued for much longer.
| Author | : Ms.Petya Koeva Brooks |
| Publisher | : International Monetary Fund |
| Total Pages | : 286 |
| Release | : 2015-10-21 |
| Genre | : Business & Economics |
| ISBN | : 1513566768 |
Among member states, many structural weaknesses were exposed when economic performance declined significantly and financial markets became more discerning. This book focuses on the analytical underpinnings of real-time policy advice given to euro area policymakers during four cycles of the IMF’s annual Article IV consultations (2012–15) with euro area authorities.
| Author | : Ms.Bergljot Barkbu |
| Publisher | : International Monetary Fund |
| Total Pages | : 30 |
| Release | : 2015-02-19 |
| Genre | : Business & Economics |
| ISBN | : 1498364802 |
Investment across the euro area remains below its pre-crisis level. Its performance has been weaker than in most previous recessions and financial crises. This paper shows that a part of this weakness can be explained by output dynamics, particularly before the European sovereign debt crisis. The rest is explained by a high cost of capital, financial constraints, corporate leverage, and uncertainty. There is a considerable cross country heterogeneity in terms of both investment dymanics and its determinants. Based on the findings of this paper, investment is expected to pick up as the recovery strengthens and uncertainty declines, but persistent financial fragmentation and high corporate leverage in some countries will likely continue to weigh on investment.
| Author | : International Monetary Fund. European Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 46 |
| Release | : 2014-05-08 |
| Genre | : Business & Economics |
| ISBN | : 1484373588 |
This 2014 Article IV Consultation highlights that in 2013, Estonia’s recovery from the crisis continued but at a slower pace. Real GDP growth was 0.8 percent, with private consumption providing the main support, although net exports made a negative contribution. Inflation declined to about 31⁄2 percent, but stayed above the euro average. Public finances remained strong, with a fiscal deficit of 0.2 percent of GDP and a gross public debt of 10 percent of GDP. Real GDP growth is projected at 2.4 percent in 2014, rising toward expected potential growth of 3 to 3.5 percent in the medium term.
| Author | : International Monetary Fund. European Dept. |
| Publisher | : International Monetary Fund |
| Total Pages | : 51 |
| Release | : 2014-05-08 |
| Genre | : Business & Economics |
| ISBN | : 1475591969 |
Latvia entered the euro area in January 2014 with the fastest rate of growth in Europe. The 2014 Article IV Consultation highlights that a slowdown in investment and exports was partly compensated by robust consumption demand, supported by rising real wages, bringing GDP growth in 2013 to 4.1 percent. Strong job creation reduced the unemployment rate to 11.3 percent by end-2013, close to its structural level. Consumer price inflation fell to an average of about zero in 2013, mainly owing to weakening energy prices. The 2013 general government deficit outturn of 1.0 percent of GDP was below the target of 1.4 percent.
