The global COVID-19 pandemic has radically changed the lives of many people. Most of the service sector was unable to operate, and those who were allowed to work noticed a decline in the number of consumers. People working in different sectors are trying to adapt to the coronavirus. Meanwhile, financial experts predict that as we adapt to the virus, start working under different conditions and employ different methods, prices will rise. What is really going to happen?

The Bank of Lithuania will reorganise its portfolio of financial assets in accordance with the Eurosystem’s climate change-related sustainable and responsible investment principles. The Eurosystem, consisting of the European Central Bank and the central banks of the 19 euro area countries, has agreed on a common stance in regard to the application of these principles this month.

Lithuania supports the ambition of Poland and other countries along the Via Carpathia to include the entire Via Carpathia route, a part whereof also runs in Lithuania, near the eastern part of Poland, south of the Via Baltica, in the Trans-European Transport Network (TEN-T). This would help to better develop infrastructure and open up new opportunities for the growth of transport flows. This was stated by Marius Skuodis, the Minister of Transport and Communications of the Republic of Lithuania, on Saturday during his participation in the remote conference “Europe of the Carpathians” held by the Sejm of the Republic of Poland.

Prime Minister Ingrida Šimonytė has met with Daniel Obajtek, President of the Management Board of PKN Orlen and Michał Rudnicki, General Director of ORLEN Lietuva.

The Bank of Lithuania published the monetary financial institution (MFI) balance sheet and interest rate data for January 2021, which show that:

To ensure that citizens can continue to enjoy roaming without additional charges when travelling in the EU, the Commission proposed today a new Roaming Regulation. At a time when non-essential travel is discouraged, this is an important action in preparing a brighter future. The new regulation will prolong the current rules that are due to expire in 2022, for another 10 years. It will also ensure better roaming services for travellers. For example, consumers will be entitled to have the same quality and speed of their mobile network connection abroad as at home, where equivalent networks are available. The new rules will also secure efficient access to emergency services, including improving awareness about alternative means for people with disabilities, as well as increase consumer awareness on possible fees from using value-added services while roaming.

At a remote meeting, that was held on Monday, Marius Skuodis, the Minister of Transport and Communications of Lithuania, discussed with the representatives of SpaceX, a leading company in the field of satellite Internet, opportunities for the development of satellite Internet technologies in Lithuania and the Baltic region, as well as the opportunity to cooperate during the development in Europe of Starlink, a broadband internet connection system, by this US company.

Following the assessment and proposal of the Bank of Lithuania, the European Central Bank (ECB) granted the Lithuanian capital company UAB SME Digital Financing a specialised bank licence.

A high-profile panel on Monday warned of the economic difficulties stemming from the pandemic, whilst noting that this crisis could offer the chance to rebuild EU economies.

The Board of the Bank of Lithuania granted electronic money institution licences to Sezzle Lithuania, UAB andUAB “Lux International Payment System”, authorising them to issue electronic money and provide payment services set forth in the Republic of Lithuania Law on Payments.