On March 10, 1998 Elena Leontjeva was re-elected, for another three-year term, president of the Lithuanian Free Market Institute (LFMI), Lithuania's leading champion of individual freedom and responsibility, free market, and limited government.

A few weeks earlier Lithuania's new President Valdas Adamkus invited Ms. Leontjeva to become his chief economic advisor. Ms. Leontjeva refused to quit the LFMI for the official post in the president's office but agreed to advise the president on a voluntary basis as she continues to serve as LFMI's president. President Adamkus announced this appointment right after his inauguration.

This appointment is viewed by Lithuanians as the new president's commitment to building free society and promoting free market-oriented reforms. "The new responsibilities will largely enhance my opportunities to pursue the mission of creating a free market in Lithuania", said Elena Leontjeva. "During our discourse President Adamkus conceded that the problems confronting our society cannot be resolved by distributing generous governmental largesse. We agreed that it is vital to provide conditions for people to work, create and prosper in a free market rather than in government-buttressed business reservoirs or by means of social welfare handouts."

The LFMI's president stressed that she would continue bringing free market ideas closer to people and searching for ways to embody free market principles in all spheres of life. "I know that it's going to be tough in terms of work load, but the crucial thing is that the two jobs involve the same goal and will permit of no ideological conflicts," motivated her decision Elena Leontjeva.

The LFMI, a non-profit, non-partisan organisation, has been at the forefront of Lithuania's economic reform efforts since its founding in 1990. It has demonstrated a capacity to foster creative thinking, to conduct high-quality, policy-oriented research, and to provide timely response to Lithuania's changing needs with a profound impact on the legislative outcome and the democratic process. A number of successful policy advocacy and educational campaigns has allowed LFMI to win the recognition of Lithuania's political, business and civil circles as the country's most influential centre, and mobilisor of intellectual resources, for free market reforms.

The LFMI is presently focusing on debureaucratisation and business deregulation, tax and budget reform, privatisation and pension reform programmes.