Republic of Latvia: Staff Report for the 2005 Article IV Consultation

Volume/Issue: Volume 2005 Issue 282

Publication date: August 2005

ISBN: 9781451824575

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Inflation , Money and Monetary Policy , Public Finance , ISCR , CR , staff appraisal , IMF staff representative , fiscal policy , Finance , statement , EU accession , EU fund financing , core inflation , Current account deficits , Inflation , Credit , Baltics , Western Europe

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Summary

The staff report for the 2005 Article IV Consultation on the Republic of Latvia highlights the economic outlook and mid-term risks. A sound policy framework and far-reaching structural reforms supported this performance, including a prudent fiscal policy that underpinned the exchange rate peg. The ongoing credit boom and faster real wage growth are expected to support private domestic demand while a sharp increase in net European Union (EU) grants would also boost public spending. Efficiently allocating EU funds for infrastructure was seen as a key element of a framework for promoting efficient resource allocation.