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Latvia - Devalue Now or Devalue Later?
The Latvian economy is certaily stuck in a hard and not especially pleasent place at the moment, and really one chart tells it all, since as we see above the local interbank overnight interest rates...
View ArticleA Week On the Wild Side (Latvian Edition)
By Claus Vistesen,Peering out of the window on a rainy and cold Sunday (election) afternoon in Copenhagen it is difficult not to paraphrase, yet again, one the Economist's many classic cover stories...
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More "Green Shoots" - Latvian Exports, German and Japanese Capital Goods Output
Well yesterday there was plenty of fresh news for collectors of "green shoot" negatives. Starting in Latvia, where the Statistics Office announced that exports were down by 30.9% year on year in April...
View ArticleLost In The Latvian Translation?
According to reports in the Baltic Course newspaper, Latvian Finance Minister Einars Repse (of the New Era party) is not against the strikes and rallies that are being organised in response to the...
View ArticleA Good/Bad Time To Stop Having Babies
Guest post by Doug MuirThis post originally appeared on A Fistful Of Euros In March.Here follows a bit of demographic speculation. It’s guesswork right now, but we’ll know in a year or two if I’m...
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The Clock Is Ticking Away Under Latvia
As the European Commision and the IMF conduct their latest post-Keynesian "social and economic experiment" in Latvia to see whether it is possible to revive an economy which is contracting at an annual...
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Another Round in Latvia?
By Claus Vistesen: CopenhagenI will forgive my readers if they think that my coverage of the recent debacle surrounding the potential for an imminent devaluation in Latvia has been a bit asymmetric. I...
View ArticleFacebook Links
Quietly clicking my way through Bloomberg last Sunday afternoon, I came across this:Facebook Members Register Names at 550 a SecondFacebook Inc., the world’s largest social-networking site, said...
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Are The IMF and The ECB Lining Up Against The EU Commission Over Latvia?
There was a very interesting and revealing press conference given by IMF First Deputy Managing Director John Lipsky and European Central Bank governing council member Christian Noyer in Paris on...
View ArticleEstonia's Neck Goes Into A Latvian-style Noose
Well, today is the 30 of June, and still no news from the IMF on releasing the next tranche of the Latvian loan. Perhaps this is one of the reasons why (via Ott Umelas at Bloomberg). Estonia’s fiscal...
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The IMF/EU Commission Rift On Latvia Seems To Be Deepening
Two weeks ago I drew attention to a revealing press conference given by IMF First Deputy Managing Director John Lipsky and European Central Bank governing council member Christian Noyer where it seemed...
View ArticleIMF Imposes New Conditions On Latvia
Izabella Kaminska at FT Alphaville has the story (via Reuters):The International Monetary Fund has put forward new, difficult conditions for Latvia to receive further loans, the prime minister said on...
View ArticleBrief Latvia EU Loan Update
Well, there is still effectively no word from the IMF. But The EC did today release an addendum to its memorandum of understanding with Latvia identifying a number of economic and fiscal policy...
View ArticleDanskebank's EMEA Daily Latvian Quote Of The Day
Quote of the day: "Representatives sitting in Washington and educated at Yale do not fully understand what is going on in Latvia", Latvian Economics Minister Kampars yesterday on the Latvian TV...
View ArticleWhy Latvia Is In Such A Mess
Hat Tip to Aleks Tapinsh - "No wonder this country is in such a mess. Someone posted this video of a payday at the Elkor electronics chain in Latvia. The paycheck as you can see comes in an envelope,...
View ArticleIt Isn't Only Canicular Heat They Are Suffering From In Latvia
Maintaining the peg also requires substantial political commitment. If this commitment were to falter, there is a risk that the execution of the difficult but necessary policies required under the...
View ArticleIs It Hot In Latvia In August?
Well the big news this morning is that the IMF mission to Latvia has finally reached agreement with the Latvian government on a new policy package that will give the country access to about $278...
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Latvia's Agony Continues In The Second Quarter - With Little Relief In Sight
Latvia’s economy shrank a revised 18.7 percent in the second quarter of 2009 over a year earlier in what was the second-steepest drop in the entire European Union (worsted only by Lithuania) according...
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Latvia Is Back In The News, And Expect More To Come
The Latvian government is getting nervous about the level of lending coming from Swedish banks. According to the Financial Times, "Latvia’s prime minister has warned Swedish banks they risk choking off...
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Latvia's Economy Contracts Almost 18 Percent in Q4 2009
Well, as we say in English, it never rains but it pours. Latvia, which has had the deepest recession of all 27 European Union member states, contracted by nearly 18 per cent in the fourth quarter of...
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