01822cas a2200241 a 4500 AALejournalIMF016866 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475575668 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. European Dept. Republic of Latvia : Selected Issues Paper. Washington, D.C. : International Monetary Fund, 2016. 1 online resource (35 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The aim of this paper is to examine selected issues related to Latvia's economic development. Latvia experienced a large macroeconomic adjustment in the aftermath of the crisis in 2007. The adjustment was characterized by internal devaluation via a combination of wage restraint and productivity gains. Latvia's creditless recovery has taken unusually long to turn compared to international experience. Although lack of credit has not undermined recovery so far, support from the financial sector will be crucial for its continuation going forward. Emphasis on resuscitating credit growth is key to maintaining recovery. Focus should be on facilitating access to credit for small- and medium-sized enterprises and first-time borrowers, where market failures are the largest. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2016/172 Full text available on IMF http://elibrary.imf.org/view/journals/002/2016/172/002.2016.issue-172-en.xml IMF e-Library