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Today in Riga the governors of the central banks of the Baltic States signed a Memorandum of Understanding, which sets out the basic principles of cooperation during the 2023-2026 term of office of the Executive Director for the Baltic States in the Executive Board of the International Monetary Fund (IMF).

This will be the first time that the Nordic-Baltic Constituency will be represented in the IMF Executive Board by a Director from the Baltic States. By common accord of eight central banks of the Nordic-Baltic countries, Vitas Vasiliauskas, former Chairman of the Board of the Bank of Lithuania, was appointed Executive Director. The Nordic-Baltic Constituency consists of Lithuania, Latvia, Estonia, Denmark, Iceland, Norway, Finland and Sweden.

The annual traditional informal meetings of the governors of the Baltic central banks are dedicated to exchanging views and experiences on activities as well as discussing the guidelines for further cooperation.