Financial Times FT.com

Lithuania vows not to follow Hungary to IMF

By Tony Barber in Vilnius

Published: November 27 2008 10:14 | Last updated: November 27 2008 10:14

Lithuania faces a sharp contraction of economic growth next year, but is determined not to follow the example of Hungary and Latvia and turn to international institutions for emergency help, Lithuania’s incoming prime minister said on Thursday.

Andrius Kubilius, who is expected to be confirmed next week as the leader of a new ruling conservative-liberal coalition, said he wanted to avoid seeking loans from the International Monetary Fund and the European Union.

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