Inflation remains the major economic-political issue in Latvia, and the debate has become increasingly strange with some far-fetched proposals and, not least, the "secret plan to fight inflation." There is, however, neither anything particularly mysterious about the causes of inflation, nor about the tools to use to fight it. The problem in Latvia is a central bank that emptied its toolbox long ago and a government that is caught between a rock and a hard place and whose strongest initiative seems to be to hope that the problem will just go away.It is not at all strange that Latvia face...
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