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Latvia’s contributions to ESM grow by 44.24 mln euros in 2017
BC, Riga, 11.09.2018.
Print version
Print versionIn 2017 Latvia’s contributions to the European Stability Mechanism (ESM) have increased by 44.24 mln euros to 221.2 mln euros, informs LETA referring to the informative report prepared by the Finance Ministry of Latvia.
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Latvia
joined the euro area on January 1, 2014, and completed the necessary procedures
for membership in the ESM, becoming its 18th member state as of March 13, 2014.
Latvia
holds 0.2746% of the ESM capital, thus, so far, Latvia has contributed 221.2 mln
euros into ESM.
Under the
ESM Treaty, all euro area member states are obliged to join the ESM.
The
European Stability Mechanism is a permanent crisis resolution mechanism for the
countries of the euro area. The ESM issues debt instruments in order to finance
loans and other forms of financial assistance to euro area Members States. The
ESM took effect on October 8, 2013.
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