Foreign lenders unhappy over political bickering

Oct 07, 2009
Staff and wire reports

RIGA - The Latvian government's proposed budget, agreed at an Oct. 3 emergency meeting, will allay concerns the Baltic state may fail to comply with the terms of its international bailout, announced Prime Minister Valdis Dombrovskis (New Era), reports Bloomberg. Latvia has pledged to the group of international lenders to cut its budget by 500 million lats (714 million euros) a year until 2012 to bring its deficit within 3 percent of GDP, a target it is stretching for to be able to adopt the euro ...

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