The International Monetary Fund experts will evaluate the economic situation of Lithuania
Today, Minister of Finance Gintarė Skaistė had a meeting with Borja Gracia, head of the International Monetary Fund (IMF) mission to Lithuania, and IMF experts, who will analyze the country's economic situation in the next two weeks. The representatives of the fund will also pay attention to the competitiveness of the economy, discuss the situation in the energy sector, the agenda of reforms and the prospects of public finances.
"Lithuanian economy has demonstrated resilience in the face of challenges, and this year we are back on the path of growth. However, russia's war against Ukraine continues to affect the economy of our country and the entire region. In this context, it is necessary not only to strengthen Lithuania's defense capabilities, providing additional sustainable financing, but also to increase the competitiveness of the economy, thus contributing to resistance to future shocks. We will discuss these issues in detail with the IMF experts in the coming weeks," noted G. Skaistė.
During the mission, which will take place from 24 May to 7 June, the IMF representatives will also meet with representatives of the Government, the Seimas, the Presidency, the Bank of Lithuania, the Financial Crimes Investigation Service, the National Audit Office and other state institutions, social partners and the private sector.
On 31May, the Bank of Lithuania is organizing a seminar with the IMF mission, which will focus on macroeconomic challenges in Lithuania – strengthening competitiveness and resilience. During the seminar, there will be presentations of the IMF mission and a panel discussion, in which the head of the IMF mission B. Gracia, Minister of Finance G. Skaistė, Chairman of the Board of the Bank of Lithuania Gediminas Šimkus will participate. The seminar will be held at the Institute of International Relations and Political Sciences of Vilnius University (Vokiečių g. 10), room 402, starting at 9 a.m.
Additional information:
• The International Monetary Fund (IMF) was founded in 1944 at the United Nations conference in Bretton Woods (USA). The purpose of establishing the Fund is to promote international cooperation in monetary and exchange rate policy, strengthen global economic growth, increase employment and provide temporary financial assistance to solve balance of payments problems of member countries.
• Lithuania became a member of the IMF in 1992. Article IV of the IMF’s Articles of Agreement obliges the member countries of the IMF to strive to implement economic and financial policies that ensure national and global financial and economic stability.
• Chairman of the Board of the Bank of Lithuania Gediminas Šimkus is a member of the Board of Governors of the International Monetary Fund, and Minister of Finance Gintarė Skaistė is an alternate member of the Board of Governors.
•.Currently, the IMF is an organisation of 190 countries.