But if cost-cutting at will is, in fact, currently available, it suggests that a backlog of unexploited capital projects has been built up in recent years, which, if true, implies the potential for continued gains in productivity close to the elevated rates of the last couple of years.
Back then, our Member of the Board Mr Marius Jurgilas conducted an internal seminar on Lithuania’s FinTech experience at the IMF’s offices in Washington. Today we find ourselves to be discussing financial technologies in Vilnius – indeed, an appropriate follow-up. Given the importance of the issue, we are deeply honoured to have IMF Deputy Managing Director Mr Tao Zhang participating in the event.