- Minister of Finance Rimantas Šadžius met with IMF Managing Director Kristalina Georgieva to discuss IMF assistance for Lithuania.
- Focus was on increasing revenue collection, reducing the VAT gap, and strengthening tax administration.
- Lithuania loses hundreds of millions of euros annually due to the VAT gap.
- The IMF has previously helped other countries like Poland with similar issues.
- The Minister thanked the IMF for its cooperation and recommendations on Lithuania’s economic situation.
- Discussions included global economic challenges and IMF support for Ukraine.
- In March 2023, the IMF approved a 4-year USD 15.6 billion funding program for Ukraine.
- Lithuania, along with other countries, supports Ukraine’s capacity to meet IMF commitments.
- Lithuania contributed EUR 1.5 million to the Ukraine Capacity Development Fund in 2023.
- Technical assistance covers fiscal, monetary, financial policy, public finance management, legislation, anti-corruption, and statistics.
Source: finmin.lrv.lt
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
