 At the time, Lithuania was faced with monthly inflation of 10–30% despite the demonetization of the ruble and introduction of the talonas (coupon money) on 1 October 1992.After initially promising large wage hikes to state workers, Šleževičius implemented a smaller increase and backed a tightening of monetary policy by the Bank of Lithuania.This brought monthly inflation down from 25% in May 1993 to 13% in May, 6% in June, and 3% in July.