The Baltic Course
December 16, 2008
Estonia will participate in IMF’s aid package for Latvia and is glad to see that the Government of Latvia has proposed a forceful and feasible plan for healing the economy, commented the Ministry of Finance, writes EPL Online/LETA.
“Latvia has requested aid from IMF and from the European Commission in order to solve the problems linked to Parex Banka and for reforming its fiscal policy,” noted the counsellor of the Ministry of Finance Märt Kivine. He added that Estonia together with the Nordic countries and with Lithuania have actively participated in the consultations during which Latvia’s situation, problems and needs have been discussed.
Kivine assessed that the stabilisation plan of the Government that is heating political passions in Latvia right now is a forceful one. He estimated that the current plan is the best way to maintain the exchange rate of the Latvian lats which in turn is important for Latvia and for the entire region as a premise for the stability of economic environment and growth.
“Estonia and other Nordic countries and Lithuania have made a principal decision that all countries in the region will contribute to the IMF programme, but in what form and to which extent, is yet to be specified,” stated Kivine.