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IMF calls on Lithuania to carry out credit union sector reform
BC, Vilnius, 19.05.2016.
Print version
Print versionThe International Monetary Fund (IMF) recommends that Lithuania should strengthen its credit unions sector and carry out structural reform of the sector, the Bank of Lithuania said LETA/BNS.
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According to the central bank's press release, the IMF says in its latest report on Lithuania released on Wednesday that the country's financial system is stable and well-capitalized and that a moderate increase in bank lending has a positive effect on the country's economic growth prospects.
The fund's experts note that some measures to strengthen the credit union sector have been put in place recently, but there is agreement on the need for structural reform of the sector.
Based on the IMF's latest forecasts, Lithuania's economy is expected to expand by 2.7% this year and grow by another 3.1% next year.
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