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Country data
- Population:
- 2.3 million
- Area:
- 64,500 sq km
- Capital:
- Riga
- Currency:
- Lat
Key developments and challenges
The EU/IMF programme was successfully concluded at the end of 2011. This paves the way for compliance with key Maastricht criteria for public finances, and the government remains committed to euro adoption in 2014.
The authorities have delivered a strong policy performance. As a result, Latvia has regained its investment grade sovereign credit rating and managed to return to international capital markets with substantial issues at manageable yields.
The restructuring of the financial sector has progressed well. This applies particularly with regard to the successor institution to Parex, formerly the second largest bank in the country. The restructuring of Mortgage and Land Bank (MLB) is also under way.
More developments and challenges
Latvia
Key facts about the EBRD's work in Latvia
|
No. of projects |
74 |
|---|---|
|
Net business volume |
€572.1 million |
|
Total project value |
€1.9 billion |
|
Gross disbursements |
€494.0 million |
|
Portfolio in private sector |
65% |
Our strategy in Latvia
The Bank's priorities in Latvia will focus on energy (including energy efficiency) and infrastructure, and the enterprise and financial sectors.
We will support the strengthening of the competitiveness of Latvian enterprises, and investments in energy, energy efficiency and infrastructure.
CONTACTS
Šeimyniškiu 1A
4th Floor
LT-09312 Vilnius
Lithuania
Tel: +370 52 638480
Fax:+370 52 638481