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Government gets out of the lending business...
The Latvian government will no longer underwrite bank loans to private companies, according to amendments to the Law on Budget and Financial Management that came into force at the end of April, reports Nozare.lv.
The parliament endorsed the amendments on April 4 in order to limit the number of companies that may apply for state guarantees, and bank loans to private companies will no longer be underwritten by the government. This does not concern state companies, said the Finance Ministry’s Communications Department head Aleksis Jarockis.
The amendments came into force on April 2... Full story...
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