DEVALUE

Jul 02, 2009

I don't understand why Latvia doesn't de-peg the lat. Let it go! What's so holy about the peg?

Latvia has lovely beaches around Jurmala. This is a paradise in disguise. Many people say that Latvia has no manufacturing export sector, thus would not benefit strongly from devaluation. But you have a fantastic potential to increase tourism! With a cheaper lat, tourism in Riga and Jurmala would benefit greatly.

Instead of going to Gotland and the west coast of Sweden, thousands of Swedes would go to Jurmala for sun bathing with their families. Lots of new hotels could be built and other high class lodging for foreign tourists, not only Russians.

The potential is great. But it requires a cheaper lat. So let it go!

Rolf Andersson
Stockholm, Sweden

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