The Baltic Times

Stability condition for IMF talks -- PM

  • 2009-03-26
  • From BNS wire reports
RIGA - Latvian Prime Minister Valdis Dombrovskis has said that the International Monetary Fund and the European Commission will discontinue talks with Latvia if the country is not able to display political stability.

"If there is political instability, IMF and EC will stop talks with Latvia. It is a serious problem," he said.

The prime minister met with representatives of the regional press on March 26 and underscored that for the new government to be able to implement the urgent tasks for ensuring solvency of the state, political stability and public support are essential. The previous government fell because it was not able to implement unpopular decisions, he said.

Dombrovskis said the change of the government has delayed talks with international lenders.

Latvia asked for international financial support because after several years of steep economic growth the Baltic state has now entered a phase of sharp economic downturn that has been exacerbated by the effects of the global financial and economic crisis.



 

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