Bank of Lithuania

Amid a rapid decline in Lithuania's worker-to-retiree pension, the central Bank of Lithuania is sounding the alarm and calling for the pension system to be reformed and for future pensions to be linked to personal contributions.

Statistics show that Lithuania's official emigration rate did not slow down in April and remained higher than in the same period last year.

Israel-capital company blender intends to join the Lithuanian peer-to-peer lending market after operating as provider of consumer credits in the country for six months, Verslo Žinios business daily said.

Lithuania is in the zone of influence of Scandinavian banks, however, Russian banks also have low-key operations in the country and hand out loans to Lithuanian businesses, which Scandinavian-operated local banks are not extremely happy about and warn about risks, Verslo Žinios daily said.

Employers are struggling for employees still remaining in Lithuania and are raising wages at the fastest rate in the European Union, but emigration is hurting long term economic growth.

Vilius Šapoka, a former director of the Financial Services and Markets Supervision Department at the central Bank of Lithuania, says that he is considering an offer to become the country's next finance minister.

The announcement this week that two Nordic banks, Nordea and DNB, are merging their operations in the Baltic states does not come as a surprise, banking analysts say.

The mortgage market in Lithuania is showing strong signs of recovery, the Bank of Lithuania says. Growing income, low interest rates and optimistic outlook encourages people to take out loans in order to buy properties.

After the Brexit referendum, other European countries have been scrambling to attract startups and financial companies that might be considering leaving the UK – and Lithuania is no exception. To read this article, try a €5.99 monthly subscription by clicking here.

The Bank of Lithuania expects the country's economy to grow 2.6%, leaving its earlier projections unchanged. To read this article, try a €5.99 monthly subscription by clicking here.

While banks in Lithuania are resilient enough to possible shocks in the financial markets, a possible burst of the real estate bubble in Scandinavia presents a potential hazard, according to Lithuania's central bank.

In three weeks, British citizens are voting on whether to remain in the European Union. The results of the referendum are hard to predict with any certainty, but one thing is clear - Brexit would be most painful for the United Kingdom itself and the country's economy. The situation of expat Lithuani...