2013-07-18
C. Lagarde: It is important to hold on to the hard-won gains in competitiveness and public finances
Having astutely and decisively managed the crisis, Lithuania should hold on to its hard-won gains in competitiveness and public finances, continuing structural reforms and thus promoting economic growth and job creation, stated Christine Lagarde, Managing Director of the International Monetary Fund (IMF), who is currently visiting in Vilnius. On Thursday, 18 July, she discussed at the Bank of Lithuania the economic situation and issues of the financial and banking system’s stability with the Chairman of the Board, Vitas Vasiliauskas, and Members of the Board.
“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”, said C. Lagarde.
Vitas Vasiliauskas, the Chairman of the Board of the Bank of Lithuania, noted that once Lithuania takes over Presidency of the European Union (EU), the central bank of our country is determined to share its experiences in implementing all the EU financial stability priorities.
“I look forward to Lithuania’s inspired EU presidency and leadership in addressing key priorities, like progressing further toward a full banking union,” said C. Lagarde.
Christine Lagarde, Managing Director of the International Monetary Fund (IMF) and Vitas Vasiliauskas, the Chairman of the Board of the Bank of Lithuania. Photo by Vygintas Skaraitis (BFL)
On Thursday the IMF head will also share insights at a round table discussion, “European Economic Integration: Stock Taking of Challenges and Possibilities”, organised by the Bank of Lithuania and partners. The event will also be attended by Jörg Asmussen, Member of the Board of the European Central Bank, Vitas Vasiliauskas, Chairman of the Board of the Bank of Lithuania, and Rimantas Šadžius, Minister of Finance of the Republic of Lithuania.