Analytics, Economics, EU – Baltic States, Latvia

International Internet Magazine. Baltic States news & analytics Thursday, 02.05.2024, 09:00

IMF: Latvia must switch to production sectors

Nina Kolyako, BC, Riga, 12.01.2009.Print version
Just like many other countries, Latvia has to tackle the effects of the global economic crisis, including several specific factors, such as boosting competitiveness and switching to production sectors, as the International Monetary Fund Senior Regional Representative for Central Europe and the Baltics Christoph Rosenberg said after a meeting with President Valdis Zatlers today.

According to Rosenberg, the IMF, the European Commission and other donors' support program for Latvia was discussed at the meeting today, writes LETA.

 

Although the situation in Latvia has already been stabilized with the funds, Latvia is yet to resolve several important tasks.

 

The international aid is a national project and it requires national unity, said Rosenberg, adding that he approves of Zatlers' ideas for national unity.

 

During the meeting, the situation in Latvia was discussed, as Zatlers' press secretary, Ilze Rassa, told LETA. Rosenberg stressed that when evaluating the economic situation in Latvia, external factors must also be taken into consideration, namely, that the economic crisis has also hit many countries. Rosenberg also said he had a high opinion of the idea to set up a supervisory council for the international aid for Latvia.

 

As reported, Rosenberg and other IMF officials are in Riga today for talks with Zatlers, Prime Minister Godmanis and members of the business community.






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