LV: Latvia should tap foreign markets to refinance debt-IMF.

By bne IntelliNews April 7, 2011
Head of IMFs mission to Latvia Mark Griffiths believes that it is best that Latvia attracts funds from international financial markets in order to repay international aide loan. This follows recent proposals by PM Valdis Dombrovsksis and FinMin Andris Vilks to prolong the loan repayment period. However, FinMin changed his stance on the issue shortly after arrival of the IMF/EC mission this week. Griffiths argued that extending the loan repayment would not be the best option, as stabilised economy and internal debt level of 40%-50% of GDP presents opportunity to borrow funds in the international markets. To remind, in the end of 2008 Latvia received a financial aid package worth EUR 7.5bn from international donors (IMF, EC and WB), out of which so far EUR 4.4bn were received.

Related Articles

EE: Estonian Air records EUR 49.2mn loss in 2012.

Estonian national airline Estonian Air recorded net loss of EUR 49.2mn in 2012, up from net loss of EUR 17.3mn in 2011. Operating loss amounted to EUR 35.8mn in 2012. Revenues of the company ... more

LT: Malsena acquires Latvian flour manufacturer Rigas Dzirnavieks.

Lithuanian flour manufacturer Malsena announced that it has acquired Latvian flour manufacturer Rigas Dzirnavieks. The company indicates that with the acquisition it will become the largest flour ... more

EE: Estonian Air to return excess Embraer airplanes.

Estonian national airline Estonian Air announced that it agreed to pay penalties for returning two excess Embraer E190 aircrafts to the manufacturer. The company has started restructuring and ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss