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Lithuania would take IMF help if needed - paper
24 Jul 2009 08:08:35 GMT
 Source: Reuters
VIENNA, July 24 (Reuters) - Lithuania would take financing help from the International Monetary Fund if needed but would rather carry on tightening its belt instead, the country's new finance minister told an Austrian daily on Friday.

The crisis in neighbour Latvia, which has been battling to secure aid agreed with the IMF and EU as it tackles problems over budget funding, showed the importance of securing balanced finances, Lithuania's Ingrida Simonyte said.

She said Lithuania would press on with its austerity plan which has sparked unrest in the Baltic state.

"If financial help becomes necessary because of a dramatic worsening (in the economic environment), we would of course resort to the IMF. I see this as pragmatic," she told Die Presse in an interview.

Simonyte said that a devaluation of Lithuania's lita currency was "absolutely no option", repeating previous comments from Lithuania's prime minister.

Latvia is facing a possible devaluation of its lat currency <EURLVL=>. Simonyte said Lithuania needed to join the euro as soon as possible but that it would not rush into membership if it would cause severe damage to the country's economy. (Reporting by Sylvia Westall; Editing by Victoria Main)


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