Lithuania

IMF letter to the FT

In this letter to the Financial Times on 8 February, 2006, the IMF's assistant director Ashoka Mody, and the Fund's senior resident representative for central Europe and the Baltics, Christoph Rosenberg, question FT columnist Wolfgang Munchau assertion…

Eu-row continues

The row over how to spell the "euro" single currency was only partially solved this week when Lithuania (euras) and Slovenia (evro) agreed a compromise on the word but Latvia (eiro) and Hungary (euroo) said they plan to stick to their own spelling.

Euro or euras?

Algirdas Brazauskas, the Lithuanian prime minister, has criticised the EU's demand that the single currency be called the euro, not the euras, as it is known in Vilnius.

Bank of Lithuania issues its first bimetallic coin

The Bank of Lithuania has issued a 200 litas commemorative coin to celebrate the 750th anniversary of the crowning of King Mindaugas, the Baltic News Service announced. This is Lithuania's first bimetallic commemorative coin (gold and silver).

Bank of Finland to cease Baltic monitoring

The Bank of Finland will end its monitoring of the Baltic states from next year, the Baltic News Service reports. The bank said the states have in a way reached a watershed and at a certain point the transition is regarded as complete.

Lithuania thwarts mafia attempt to launder money

LITHUANIA - The Bank of Lithuania, the country's central bank, has prevented a large-scale money laundering attempt by declining an application from a French national to make a huge investment in the country's fourth-largest bank, Snoras, Lithuanian…

Lithuanian c bank lowers reserve requirements

LITHUANIA - Lithuania's central bank said on Thursday it lowered the reserve requirements for banks to six percent from eight percent in a move to bring the country's banking rules closer to European standards.

Central bank chief picked Oracle of the Year

LITHUANIA - Reinoldijus Sarkinas, chairman of the board of the central Bank of Lithuania, has been named the Oracle of the Year by the business newspaper Verslo Zinios, as his forecasts on 2001 macroeconomic indicators were closest to the truth.

Litas banknotes well protected - experts

LITHUANIA - The Lithuanian national currency banknotes have more security features than the new E.U. currency, the euro, the central Bank of Lithuania said following visit by experts from the National Bank of Belgium.

Lithuanian c-bank to switch some reserves to euro

LITHUANIA - Lithuania's central bank said on 28 June it would "soon" start exchanging some of its reserves into euro to prepare for the change of the national currency's anchor to the euro from the dollar in February.

Limited boost to euro from Lithuania litas repeg

LITHUANIA - The euro will only get psychological boost from Lithuania's move towards pegging its litas to the euro as the accompanying shift in foreign exchange reserves is not seen generating much demand for euros.

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