Lithuania: Analytical background
Author | : |
Publisher | : World Bank Publications |
Total Pages | : 372 |
Release | : 1998-01-01 |
ISBN-10 | : 0821343270 |
ISBN-13 | : 9780821343272 |
Rating | : 4/5 (70 Downloads) |
Download or read book Lithuania: Analytical background written by and published by World Bank Publications. This book was released on 1998-01-01 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Soon after its declaration of independence, Lithuania launched a program of market-based economic reforms that achieved remarkable results. However, a banking crisis erupted in January 1996, driven by a combination of ineffective bank supervision, poor bank practices, and deep-rooted sectoral imbalances. With financial support from the World Bank, Lithuanian authorities embarked on a broad economic reform program with two immediate objectives: the resolution of the banking system's operational and undercapitalization problems, and a reduction in the most severe imbalances in the economy. 'Volume I' distills findings and conclusions and builds a policy action plan for fast stable growth. 'Volume II' contains a collection of twelve policy notes that provide the technical analysis behind that plan.