IMF -- Resident Representative Office in Latvia

Budapest, Latvia

View over the river Daugava towards the Gulf of Riga, Latvia. Photo by GothPhil

Latvia Resident Representative Site

Resident Representative Office in Latvia

This web page presents information about the work of the IMF in Latvia, including the activities of the IMF Resident Representative Office. Additional information can be found on the Latvia and IMF country page, including IMF reports and Executive Board documents that deal with Latvia.

At a Glance : Latvia's Relations with the IMF

Current IMF membership: 187 countries
Latvia Joined on May 19, 1992; Article VIII
Quota: SDR 126.80 million
The IMF’s Executive Board approved a 27-month, SDR 1.52 billion (about €1.7 billion) Stand-By Arrangement involving exceptional access (1,200 percent of quota) on December 23, 2008
The Second Review under the Stand-By Arrangement was completed on February 17, 2010. Latvia drew SDR 178 million (about €200 million), bringing total disbursements under the SBA to SDR 892 million (about €1 billion)

News — Highlights

IMF Reaches Staff-Level Agreement on Third Review Under Stand-By Arrangement with Latvia

We have reached agreement at staff level on the third review of the Stand-By Arrangement. Subject to approval by IMF Management, and, subsequently, by the Executive Board, the fourth disbursement (SDR 90 million or about €108 million) would become available. The Executive Board meeting is expected to take place in the second half of July.

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.

Unwinding Crisis Policies in Europe: Are We There Yet?

Much is riding on getting the timing of the exit right from the stimulative policies used to combat the global economic and financial crisis. This is something that IMF Managing Director Dominique Strauss-Kahn has repeatedly emphasized. Exiting too early may jeopardize the recovery.

Latvia and the IMF

Public Information Notice: IMF Executive Board Concludes 2010 Article IV Consultation and Third Review of the Stand-By Arrangement with the Republic of Latvia

August 12,2010
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.

Transcript of a Press Briefing by Caroline Atkinson, Director, External Relations Department, IMF

July 23,2010

Transcript of Conference Call On Latvia, Resident Representative in Riga

July 22,2010

Republic of Latvia -- Letter of Intent and Technical Memorandum of Understanding, July 05, 2010

July 22,2010
PDF File Size: 475Kb

Press Release: IMF Completes Third Review Under Stand-By Arrangement with Latvia and Approves €105.8 Million Disbursement

July 21,2010

Regional Economic Outlook: Europe

image from the publication cover

A weak and uneven recovery is underway in Europe. Macroeconomic policies still support the upswing and extraordinary measures are underway to address the sovereign crisis. Now policymakers face the difficult balancing act between continuing their support for the economy and establishing a credible path to policy normalization. Priorities are large medium-term fiscal consolidations and, in the financial area, a shift from systemic support to interventions in individual financial institutions. Structural weaknesses also need to be addressed, including the revamping of financial sector regulation and supervision, improvements in the functioning of products and labor markets, and filling gaps in the euro area’s fiscal governance. For emerging Europe, policies that facilitate a reorientation of the sources of growth toward the export sector and attract healthy capital inflows are key conditions to restart income convergence.

Resident Representative for Latvia

David Moore
Resident Representative in Latvia
Valnu iela 3
LV-1050 Riga
Tel: +371 6771 5999
E-mail: RR-LVA@IMF.ORG