Lithuania - IMF interferes in wage debate - March 31, 2016

At the end of an IMF-mission the IMF staff directly interfered in the current debate on labour market reform and wage development. The organisation welcomes the labour reform initiative (New Social Model). Unveiled about a year ago, its aim is to modernise labour relations, upgrade social benefits, and reform social security. However, with significant changes envisaged in each of these areas, the economic, financial, and social implications need to be carefully considered. The IMF is very much concerned about the improvement of the business climate and recommends that it ‘would be prudent to pause minimum wage hikes, depoliticise the process of setting them, and start addressing legitimate concerns about income inequality through other means’. Based on the IMF’s Dissemination Standards Bulletin Board (DSBB), the Central Bank updated all data and statistics.

English: http://www.baltic-course.com/eng/analytics …  

The IMF-missions statement: https://www.imf.org/external …  

The DSBB-data: https://www.lb.lt/eng/statistics …  

For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) cbn-aias@uva.nl or the communications officer at the ETUI, Willy De Backer wdebacker@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. Since June 2013 readers can consult our archive and search through all articles in our database at www.cbnarchive.euYou may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.

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