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May 2, 2014
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Article IV Staff Reports

Financial Sector Assessment Program

Projected % Change
   2014  2015
Real GDP 2.7 3.2
Consumer Prices 0.7 1.6
Source: World Economic Outlook (October 2014)
Please refer to more recent PIN/Staff reports on this country for possible revisions.

Republic of Latvia: Financial Position in the Fund

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Republic of Latvia and the IMF
Updated December 5, 2014

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IMF Survey Online
May 08, 2014 -- IMF Survey : Baltic Countries See Strong Growth, but Pitfalls Remain
The Baltic economies performed well in the last two decades relative to other transition and emerging market economies, but they face common obstacles to continued strong economic growth.
December 19, 2013 -- IMF Survey : Conference Probes Links Between Nordic-Baltic Banks
The central banks of Estonia and Sweden and the IMF hosted a conference on “Nordic-Baltic Financial Linkages and Challenges” in Tallinn, Estonia, where policymakers and bank executives examined financial integration and cross-border collaboration in light of the euro area’s nascent banking union.
January 28, 2013 -- IMF Survey : Latvia’s Recovery Continues As It Eyes Euro Adoption
Despite the recession in the euro area, Latvia’s GDP growth is projected to have exceeded 5 percent for the second year in a row in 2012. The labor market is improving, but unemployment remains too high.
June 11, 2012 -- IMF Survey: Latvia's Successful Recovery Not Easy to Replicate
While Latvia’s recovery sets an example for other European governments struggling to reduce national debt and get out of recession, the country—as well as Baltic neighbors Lithuania and Estonia—still needs to make structural changes, a conference in Riga, Latvia hears.
February 07, 2012 -- IMF Survey: Latvia Emerges Stronger As International Support Winds Down
When Latvia asked for financial support from the IMF and the European Union in Demceber 2008, it was one of the first countries to suffer the full consequences of the global economic crisis. Today, three years later, Latvia has successfully completed its IMF- and EU-supported program.
April 15, 2011 -- IMF Survey: IMF Support Helping Restore Growth but Key Risks Ahead
A new study finds that countries which sought financial support from the IMF in late 2008, after the failure of Lehman Brothers, are experiencing a return to growth. IMF financing helped countries stabilize their economies when their access to financial markets was seriously curtailed.
February 18, 2010 -- IMF Survey: After Severe Recession, Stabilization in Latvia
Latvia has suffered one of the deepest recessions in the world. But an international support package helped the country through the worst of the crisis, and recovery is projected for late 2010. IMF Latvia mission chief Mark Griffiths looks at the Baltic state’s prospects.
December 10, 2009 -- IMF Survey: 'Baltic Tiger' Plots Comeback
Even though Estonia is battling falling output and rising unemployment, the east European country’s government is confident it can ride out the global economic crisis. So confident, in fact, that it announces it is close to meeting all the criteria for adopting the euro.
December 04, 2009 -- IMF Survey: Reforms Should Follow Stabilization in EU's New Members
European Union countries in central and eastern Europe worst hit by the global financial crisis have successfully stabilized their economies and now should focus on reforms to put them back on the road to convergence with other EU members.
October 28, 2009 -- IMF Survey: Agreement with Banks Limits Crisis in Emerging Europe
In an interview, Erik Berglöf (European Bank for Reconstruction and Development) and Anne-Marie Gulde (IMF) discuss the impact of the European Bank Coordination Initiative, which has played a key role in helping emerging Europe avert systemic crisis.
July 28, 2009 -- IMF Survey: Latvia Struggles to Overcome Economic Downturn
An IMF mission and the Latvian government have agreed on a new policy package that will give the Baltic country access to about $278 million in new financing. In an interview, mission leaders Anne-Marie Gulde and Mark Griffiths explain the rationale for the policy measures.
May 28, 2009 -- IMF Survey: Latvia Caught in Vicious Economic Downturn
Latvia is in a deep recession, with the economy projected to contract this year by more than 15 percent. Plunging revenues are opening up a wide fiscal gap, which the new government is trying to plug. Mark Griffiths and Christoph Rosenberg talk about the huge challenges that face Latvia today.
April 24, 2009 -- IMF Survey: Financial Sector Key to European Recovery: IMF
While there is room for cautious optimism that Europe’s economy will turn the corner in mid-2010, the financial sector holds the key to recovery and governments must act more forcefully to clean up banks, Marek Belka, head of the IMF’s European Department, says.
April 15, 2009 -- IMF Survey: Inflexible Budget Curbs Options as Estonia Faces Recession
Estonia is experiencing a severe economic downturn brought on by mounting internal and external imbalances, and worsened by the global slowdown. The task for policymakers now is to reestablish the basis for balanced economic growth, external sustainability, and adoption of the euro.
January 14, 2009 -- IMF Survey: IMF Helping Counter Crisis Fallout in Emerging Europe
The financial crisis has hit Europe hard. In an interview, IMF European Department head Marek Belka talks about Europe's prospects for recovery and the principles that guide the Fund as it seeks to help Europe's emerging economies counter the fallout of the crisis.
December 19, 2008 -- IMF Survey: IMF Set to Lend $2.4 Billion to Latvia
The IMF announces plans to lend $2.4 billion to Latvia to support the country's ambitious plan for stabilizing the economy. The loan is subject to final approval but could be discussed before year-end under the IMF's fast-track emergency financing procedures.