The Government of Latvia has agreed with the International Monetary Fund (IMF) and the European Commission about how to obtain financial assistance to stabilize its economy. It is reported agency AFP.
According to Edgar Vaykulisa, Representative of the Prime Minister of Latvia Ivara Godmanisa, all documents relating to the loan will be signed on Dec. 9. The loan amount has not yet been reported, although the previous Latvian side planned to ask the IMF to five billion euros (6.4 billion dollars).
The fact that Latvia intends to apply for a loan to the IMF crisis, it was reported on 20 November. In late November, Latvian Finance Minister Atis Slakteris stressed that the country could do without those funds, but they will be able to support the Latvian economy.
Latvia has suffered from financial crisis, along with many of the world. In early November, its rating was lowered rating agency Moody's Investors Service to "A2" to "A3" and the agency Standard & Poor's - from "BBB" to "BBB-". Then the power in Latvia's second largest nationalized banks Parex Banka.
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