When the first country-wide lockdown was imposed in the beginning of 2020, the Lithuanian housing market froze – transaction numbers plummeted, and the flow of housing credit diminished. This caused a lot of concern and sparked discussions on the need to loosen borrower-based measures to increase activity in the market.
Foreign exchange reserves as on January 14, 2011 stood at $ 297.4 billion. Though it is recognized that foreign exchange reserves can only be partial antidote to capital flow volatilities, they indeed work as comfort buffers during times of crisis.