OREANDA-NEWS. October 29, 2010. The mission of the International Monetary Fund (IMF), headed by Mr. James Morsink, Head of the European Department of the IMF, finished its work in Lithuania, reported the press-centre of Bank of Lithuania.

One of its main objectives was to get information about relevant issues related to the fiscal policy of Lithuania.

The situation of domestic banks was discussed with the representatives of the International Monetary Fund during the meetings. IMF representatives noted that confidence in our banking sector has been maintained, while the capital adequacy and liquidity indicators of banks are higher than required, commented Mr. Reinoldijus Sarkinas, Chairman of the Board of the Bank of Lithuania.

According to him, strict supervision of commercial banks will be continued.

The members of the IMF mission also met with the representatives of the Ministry of Finance, other public institutions and the private sector.

Lithuania’s cooperation with the IMF is based on economic consultations under Article IV of the Articles of Agreement of the IMF.

Lithuania is a member of the International Monetary Fund from 1992. Currently, 187 countries are members of the IMF.