Further measures for sustainable growth are necessary, Lithuania’s central bank chief says

Vitas Vasiliauskas
DELFI / Mindaugas Ažušilis

“Although the accommodative monetary policy measures applied by central banks have helped global economic recovery gain speed, it is still fragile however; while growth still highly varies across the regions of the world. Efforts should be concerted to ensure sustainable enduring development of the economy,” said Vasiliauskas.

According to him, faster economic recovery is being impeded by still sluggish investment, difficulties faced by the banking sector in some countries, and persisting geopolitical tensions. Moreover, global financial system risks in relation to a low interest rates environment and strong increases in the prices of some property types have strengthened as well.

Vasiliauskas stressed that during the IMF annual meetings monetary, financial sector, fiscal and structural policy measures will be discussed, which could ensure more robust economic growth and mitigate the risks in the international financial system both in the long and short term.

During his visit in Washington, Vasiliauskas will attend the meetings of the IMF’s International Monetary and Financial Committee as well as the meetings of the Nordic-Baltic constituency. Bilateral meetings with the representatives of the US Treasury and the European Department of the IMF have also been planned.

Chairman of the Board of the Bank of Lithuania, Vitas Vasiliauskas, is a member of the Board of Governors of the IMF.

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