The devaluation can be controlled

Oct 16, 2009
TBT staff from wire reports

RIGA - Latvia could arrange a controllable lat devaluation, such a statement was made by Swedbank finacial director Erkki Raasuke in the interview to a Swedish newspaper Dagens Industri. In his opinion, the effect of the uncontrollable devaluation would be wrecking, but the devaluation as a part of ERM-2 currency exchange mechanism could be easily controlled.

Raasuke thinks, that 15% devaluation could be realized with the assistance of International Monetary Fund, EU and Scandinavian countries, taking in mind all delicacies the of this proccess.

The analyst agrees with the popular among Swedish banks opinion, that in the near-term prospect lat devaluation can induce serious problems, nevertheless, the overall size of the losses will not be bigger, than in the case of saving the current course.

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