FINANCE

State-owned assets should be sold to boost economy

RIGA - Maris Zanders, chief editor of Latvia’s business magazine Kapitals, says that resources needed to stimulate the economy could be obtained by selling state property, reports news agency LETA. The call to sell off state property, if done transparently, could serve to boost state coffers during these difficult economic times while at the same time turning over management and operations of land and companies to more productive private industry. Th e editor, commenting on the government budget crisis and the strict terms it faces in receiving loans from international lenders, complains th... Full story...

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Lack of demand puts pressure on retailers...

‘Internal Devaluation’ keeps lid on spending...

State-owned assets should be sold to boost economy...

Better than expected 3rd Qtr numbers surprise analysts...

Governments continue struggle with budgets in their march towards the euro...

Estonia looks to euro in 2011...

Estonia still on track for 2011 euro adoption...

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Trade surplus for Estonia long way off...

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Expected growth next year to remain fragile, says EBRD...

Lithuania manages to steer clear of IMF loans...

Analysts doubt whether Estonia will qualify for euro entry in 2011...

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Currency peg to blame for worsening economy, says Cordero...

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Bank Governor sees improving borrowing conditions...

Wage levels have further to fall...

New Report casts doubt on IMF program...

Transport ministers meet to discuss regional cooperation...

Nov 12, 2009 - Lack of demand puts pressure on retailers...

TALLINN - Estonian consumer prices had their worst month on record in October as the recession has cut into demand forcing retailers to offer steep discounts, reports Bloomberg. Consumer prices slid 2.2 percent from a year earlier. This follows a decrease of 1.6 percent in September. The median estimate of five economists in a Bloomberg survey was for a 2.1 percent drop. Prices dropped by 0.1 percent from the month earlier level. Estonia’s GD...

Nov 12, 2009 - ‘Internal Devaluation’ keeps lid on spending...

RIGA - Third quarter GDP numbers for Latvia show the economy crumbled 18.4 percent compared to the same period last year, the biggest decline in the European Union, reports Bloomberg. The government’s commitment to maintaining the national currency peg to the euro is forcing businesses and state enterprises to continue with cut jobs and wage reductions, the ‘internal devaluation,’ to stay alive. The contraction compares with an 18.7 percent p...

Nov 04, 2009 - Better than expected 3rd Qtr numbers surprise ana...

VILNIUS - Lithuania’s third quarter GDP fell by 14.3 percent compared with the same period a year earlier, but the numbers show that the economy is rebounding off second quarter lows, reports news agency ELTA. Output in the third quarter increased compared to the previous quarter’s figures. “Over the past three months, the economy stopped falling and increased by 6 percent from the second quarter. It clearly shows that the economy has hit rock ...

Nov 04, 2009 - Governments continue struggle with budgets in thei...

TALLINN - Nomura International analyst Peter Attard Montalto says that Estonia, Latvia and Lithuania will keep their currencies pegged to the euro in a bid to prevent economic instability from spreading to Western Europe, reports bbn.ee. He feels that the three countries could switch to the euro as early as 2012. “Adding more pain to the economy now [through devaluation] does not make sense, especially politically, particularly considering co...

Oct 29, 2009 - Estonia looks to euro in 2011...

TALLINN – Estonia has set its sights on adopting the euro in 2011 following an IMF report released earlier this week praising the country's fiscal management. “A full-fledged crisis has been avoided due to existing buffers and a determined response by both the public and the private sector,” an IMF press release said. “As a result of present and past efforts, euro adoption in 2011 appears within reach,” it said. Estonian politician...

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