Lithuania on track, should consider raising taxes - IMF

WASHINGTON, March 28 (Reuters) - Lithuania has done a good job of recovering from the 2008-2009 economic crisis and has taken impressive steps to consolidate public finances, but should focus future fiscal adjustments on raising more revenue, the IMF said on Thursday.

International Monetary Fund directors, in a regular assessment of the country's economic health, "saw merit in expanding wealth and property taxes and broadening the tax base," IMF said in a statement.

"Directors also called for strengthening the fiscal framework and further reform of the pension system," it said.

Lithuania aims to adopt the euro common currency in 2015 and IMF directors welcomed the government's goal of making this transition from a position of economic strength.

The IMF also commended Lithuanian authorities for intervening in four insolvent credit institutions "which has strengthened the overall soundness of the financial system."

The euro zone is confronting a severe crisis in Cyprus sparked by the problems in the tiny nation's banking sector that pushed it to the brink of default and forced Cypriots to accept bank deposit losses in return for an international bailout.

(Reporting By Alister Bull; Editing by Bernard Orr)