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| | Lithuania Economy (Site not responding. Last check: 2007-10-16) |
 | | In the early and mid-1990s, Lithuania's economy went through a dynamic transition from the centralized economy prevalent during Soviet control of Lithuania to a market-driven economy dominated by private enterprise and oriented toward trade with Western Europe and North America. |
 | | During this period, the economy declined precipitously while the Lithuanian government implemented fundamental economic reforms, including price reform, privatization, government reform, introduction of the litas (pl., litai) as the national currency (for value of the litas--see Glossary), and trade adjustment. |
 | | The IMF noted that substantial progress had been achieved in Lithuania between 1992 and 1994 and that, after successfully reducing inflation, the country was ready to turn its attention to reforming its tax, privatization, social security, and finance policies. |
| www.country-studies.com /lithuania/economy.html (258 words) |
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