RIGA - Latvia is not going toface a sudden financial and banking crisis, stated the vice-presidentof the rating agency "Moody's Investors Service" KennethOrchard.
The ability of thecountry to decrease a large deficiency of the current rate makesdevaluation unlikely, said Orchard, adding, that this opportunity isalso reduced by liquidity shortage and the unwillingness of the bankto grant loans.
Furthermore, the EU hasshown that it is ready to give Latvia financial assistance, to createa, so called, devaluation "buffer".
"Moody's" haspositively evaluated the decisions taken by the Latvian government onthe 16th of October, as they will stimulate the decreasingof the current credit rating of the country.
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