“I would like to commend Lithuania’s astute crisis management and decisive policies that restored credibility, secured the stability of the financial system, and helped stage a strong recovery. It is important to hold on to the hard-won gains in competitiveness and public finances. Dealing with remaining crisis legacies and structural reforms will be key to secure growth and job creation in the medium-term,” a press release from the Bank of Lithuania quoted her as saying at Thursday meeting with Vitas Vasiliauskas, the chairman of the central bank’s board, and board members.
“I look forward to Lithuania’s inspired EU presidency and leadership in addressing key priorities, like progressing further toward a full banking union,” Lagarde said.
Vasiliauskas has noted that once Lithuania takes over the presidency of the EU Council, the central bank is determined to implement all the EU financial stability priorities.
Later on Thursday, the IMF chief will take part in a round table discussion on European Economic Integration: Stock Taking of Challenges and Opportunities organized at Vilnius University by the Bank of Lithuania jointly with its partners. The event will also be attended by Jorg Asmussen, a member of the European Central Bank‘s executive board.
This is the first visit by an IMF chief to Lithuania since Michel Camdessus came 16 years ago, in 1997. Lithuania has been a member of the IMF since 1992. The Fund currently has 188 member countries. It works to foster international monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.