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 Latviaâ€™s exchange rate peg through strong domestic policies and substantial international financial assistance.

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Year of publication:	2009-01-09
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Announcements \| Debt restructuring \| Economic conditions \| Economic indicators \| Economic reforms \| External debt \| Financial soundness indicators \| Staff Reports \| Stand-by arrangement requests \| banking \| current account \| banking system \| balance of payments \| bank of latvia \| debt sustainability \| current account deficit \| banking sector \| external financing \| recapitalization \| bank restructuring \| foreign exchange \| external debt sustainability \| private debt \| capital adequacy \| public sector debt \| current expenditure \| reserve assets \| capital expenditure \| public debt \| official creditors \| liquidity crisis \| current account balance \| central bank \| debt burden \| debt service \| bank loans \| currency board \| budget law \| domestic debt \| debt ratio \| external debt burden \| bank insolvency regime \| deposit insurance \| debt stock \| foreign debt \| external payments \| bank insolvency \| banking system assets \| bank lending \| bank recapitalization \| total external debt \| structural adjustment \| deposit guarantee \| bank deposits \| balance sheet effects \| short-term debt \| macroeconomic stability \| external funding \| banking laws \| central banks \| external liabilities \| long-term loans \| long term debt \| domestic financing \| current account deficits \| government deficit \| local government borrowing \| domestic currency \| banking crises \| budget balance \| asset management company \| external finance \| investment spending \| nominal capital \| bank capital \| capital adequacy ratio \| short term debt \| bank reserves \| debt dynamics \| net external debt \| credit tranche \| debt sustainability analysis \| global liquidity \| return on equity \| interbank market \| bilateral creditors \| government finance \| banking crisis \| banks ? loans \| debt overhang \| external liquidity \| bank ownership \| internal control \| private sector debt \| bank shares \| private credit \| debt stocks \| reserve requirement \| payment arrears \| domestic saving \| currency debt \| bank creditors \| bank borrowing \| repurchases \| foreign currency debt \| long-term debt \| bank credit \| debt service capacity \| off balance sheet \| supplemental reserve \| balance of payment \| banks ? balance sheets \| bank balance sheets \| bank intervention \| decentralization \| bank share \| budget systems \| currency risk \| bank assets \| bank takeover \| debt servicing \| bank for international settlements \| bilateral donors \| current account adjustment \| external debt position \| bilateral contributions \| domestic private debt \| debt-equity \| private banks \| regulatory approach \| public external debt

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 09/3 10 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011245750