IMF agrees on next tranche in exchange for high taxes
Feb 24, 2010
By Kira Savchenko
RIGA - The International Monetary Fund’s (IMF) executive board approved giving Latvia access to a further 200 million euro from its bailout loan package. At the same time, the biggest international donor, the European Commission, promised to transfer the next tranche, 500 million euros, in mid-March. However, the IMF highly recommends that Latvia abides to its agreed higher taxes and to not decrease the value added tax (VAT) on the tourism industry, something that some of the coalition ...
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