OREANDA-NEWS. On December 08, 2008 the Mission of the European Department of the International Monetary Fund (IMF), headed by Catriona Purfield, started its work in Lithuania. The mission will finish its work on 16 December, reported the press-centre of Bank of Lithuania.

The IMF experts will examine the draft state budget for the next year, analyze the current macroeconomic situation of Lithuania and the situation in the financial sector.

The meetings are planned with the representatives of the new Government, the Ministry of Finance, the Bank of Lithuania and other public institutions and the private sector.

As from the end of March 2003, when the precautionary Stand-By Arrangement of Lithuania and the IMF ended, the basis for cooperation of the IMF and Lithuania is the economic consultation under Article IV of the IMF Articles of Agreement.

Lithuania is a member of the International Monetary Fund from 1992. Currently, 185 countries are members of the IMF.