Bank of Lithuania

The meeting of Reinoldijus Šarkinas, Chairman of the Board of the Bank of Lithuania, and Olli-Pekka Lehmussaari, IMF Executive Director for Nordic and Baltic Countries, took place at the Bank of Lithuania today.

The aim of Mr. Lehmussaari’s two-day visit in Vilnius is to get acquainted with the country’s economic situation, meet the officials that are in charge of forming the country’s economic policy and prepare to represent Lithuania’s interests at the IMF. Mr. Lehmussaari took the post of executive director early this year. This is his first visit in Lithuania.

Mr. Lehmussaari, as IMF Executive Director, represents the interests of eight Nordic and Baltic countries, members of the IMF (Lithuania, Latvia, Estonia, Finland, Iceland, Norway, Sweden and Denmark), at the IMF Executive Board.

The IMF Executive Board is the managing body of the IMF between the meetings of the Board of Governors. The Executive Board includes 24 executive directors representing the interests and positions of IMF members. Each executive director has a number of votes that is equal to the number of votes of the represented countries. The Nordic and Baltic countries have 3.56 percent of votes at the IMF.

Apart from other issues, the IMF Executive Board discusses the programmes of co-operation between the IMF and its member countries and the issues of the countries’ economic development.