The IMF suggested that Latvia reduced pension.

The International Monetary Fund (IMF) has proposed to begin the reduction of pensions in Latvia, where unemployment in the country will reach 13 percent. That was reported by a local agency Delfi. In Latvia, the Ministry of Finance believed that the unemployment rate by the end of the year will rise to 12 percent, but the IMF believes that can be passed and the mark of 13 per cent.
If the forecast of the International Monetary Fund's realized, the Government will increase payments for unemployment benefits from 47 to 67 million lats (94 million euros). It is because of such payments to the IMF and proposes to reduce the pension.
The government of Latvia has declared that it was not going to reduce benefits to retirees. According to the Minister of Welfare Iveta Purne, pensions, and so are negligible. These officials will be untouched, if the country is completely out of business.
Recall that one of the main victims of the global financial crisis in Europe was precisely Latvia. The Government was forced to take expensive anti-crisis program and nationalize the bank Parex. Nevertheless, it is not saved the country from a sharp downturn promproizvodstva and GDP. In late 2008, Latvia agreed to provide it with a loan from the IMF for seven and a half billion euros.
February 24, the international agency Standard & Poor's lowered the long-term sovereign rating of Latvia to the level of BB +. The reason for this step, the Agency cited the growth of external debt and a program to get the economy out of crisis.