RIGA - Latvia is not going to face a sudden financial and banking crisis, stated the vice-president of the rating agency "Moody's Investors Service" Kenneth Orchard.
The ability of the country to decrease a large deficiency of the current rate makes devaluation unlikely, said Orchard, adding, that this opportunity is also reduced by liquidity shortage and the unwillingness of the bank to grant loans.
Furthermore, the EU has shown that it is ready to give Latvia financial assistance, to create a, so called, devaluation "buffer".
"Moody's" has positively evaluated the decisions taken by the Latvian government on the 16th of October, as they will stimulate the decreasing of the current credit rating of the country.
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