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2022 10 26
Gintarė Skaistė. The biggest EU challenge: steps needed to improve resilience

Today, Europe faces numerous challenges – from dealing with the legacy of pandemic to climate change. But the biggest one is no doubt the Russia's unprovoked and brutal war against Ukraine. Let’s go back in time a bit to that morning in late February – when we all woke up shocked by what had happened. Russia has brought war back to the ...

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2022 10 19
Lithuania Borrowed EUR 1.2 billion In International Financial Markets

On Tuesday Lithuania borrowed EUR 900 million in the international capital markets by issuing a new 5.5-year Eurobond and tapping the 10-year Eurobond issued in spring this year with EUR 300 million. During the new issuance, a risk premium of 120 basis points above the mid-swap interest rate was set, and for the issuance tapped, a risk premium of 135 basis ...

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2022 08 05
The European Commission Approved Lithuania's Plans for EUR 7.5 billion Investments

The European Commission (EC) approved the Programme for the European Union (EU) Funds’ Investments 2021-2027, according to which it is planned to invest EUR 7 billion 449 thousand. "Even in the face of great uncertainty, at the stage of programming strategic documents of the EU cohesion policy, Lithuania was the third in Europe to receive ...

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2022 07 29
Gintarė Skaistė. It Is Not Sanctions That Affect the Economy, but Putin's War

Although it is understandable whose interest it is to make European citizens doubt the value of EU sanctions against Russia, which attacked Ukraine, both high-ranking officials and journalists often succumb to the narrative imposed by Russian propaganda. "How will the sanctions affect your country's economy?" I have been asked this question ...

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2022 07 28
In the Face of Global Challenges and Great Uncertainties, Lithuania Remains on the Path of Growth

Despite the challenges caused by Russia's war against Ukraine, the Lithuanian economy is showing resilience – according to the International Monetary Fund (IMF), economic growth will remain positive this year and should reach 1.8 %.  Significant inflationary pressure felt in 2022 should weaken next year, as energy and raw ...

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2022 07 13
Lawsuit by Alleged Successor of Former Snoras Shareholder V. Antonov against the Republic of Lithuania Will Not Be Investigated

The Court of Arbitration, acting in accordance with the international arbitration rules of the United Nations Commission on International Trade Law (UNICTRAL), on 1 July 2022 issued a final decision by which it refused to investigate the lawsuit by the Russian Fund for Protection of ...

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2022 06 10
EU programme InvestEU to boost crucial investments in Lithuania

The InvestEU programme, launched by the European Commission with the EIB Group as the main implementing partner, seeks to boost crucial investments across Europe in support of the European Union’s policy priorities, such as the European Green Deal and the digital transition. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and ...

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2022 05 25
Lithuania has issued a 10-year Eurobond

Today Lithuania borrowed EUR 650 million in the international capital markets by issuing a 10-year Eurobond. The annual coupon was set at 2.125 per cent. During this issuance, a risk premium of 60 basis points above the mid-swap interest rate was set. In 2020, when the 10-year Eurobond issue was last issued, this risk premium was equal to 90 basis points. This means that investors assess ...

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2022 05 24
Minister of Finance G. Skaistė: “Russia’s Frozen Assets Should be Used for the Reconstruction of Ukraine“

At the ECOFIN meeting in Brussels Minister of Finance Gintarė Skaistė initiated a joint statement by the Ministers of Finance of Estonia, Latvia, Lithuania and Slovakia calling for Russia’s frozen assets to be used as one of the main sources for Ukraine’s post-war reconstruction. According to G. ...

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2022 04 25
Lithuania: Total financing for energy efficiency loans with Šiaulių Bankas reaches €1 billion

Together with the Lithuanian government, the European Investment Bank (EIB), as the European Regional Development Fund (ERDF) manager, is providing a €90 million loan to the newly established SB Modernisation Fund, a subsidiary of Šiaulių Bankas. The fund will receive a total of €275 million in loans from Lithuanian and ...

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2022 04 14
Finance Ministers and Foreign Affairs Ministers Addressed the G7: Call for Suspension of Russia’s and Belarus’ Membership in International Institutions

Minister of Finance of Lithuania Gintarė Skaistė and Minister of Foreign Affairs Gabrielius Landsbergis addressed the Finance Ministers and Foreign Affairs Ministers of the G7 calling for the immediate and indefinite suspension of Russia’s and its ...

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2022 04 11
Baltic Green Finance Conference is to be held for the first time in Vilnius

The Ministry of Finance of the Republic of Lithuania, the European Court of Auditors and the Lithuanian Banking Association are organizing an international finance conference “Making Green Finance a reality in the Baltics” in Vilnius on June 3 to discuss the implementation of the European Green Deal and to share insights on the challenges of the ...

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