IMF delegation positive on Latvian outlook

  • 2011-04-07
  • TBT Staff

Griffiths (right) was optimistic about Latvia's future economic outlook. (Photo: Latvian State Chancellery)

RIGA - A high-proifile mission from the IMF has praised Latvia's return to growth and said they are happy with this year's budget.

"We had already agreed, on a provisional basis, on the measures included in the amendments to the 2011 budget. As regards the budget for 2012, the work will continue this week and next week,” Dombrovskis said after the first meeting with the delegation.

Head of the IMF’s Mission to Latvia Mark Griffiths emphasized that finally the results of Latvia’s fiscal consolidation can be observed – the economic indicators and the future outlook in the economy are positive, the prime minister's office said.

Head of the EC’s Mission to Latvia Gabriele Giudice emphasized that the European Commission is satisfied with Latvia’s progress and, at the same time, the work should continue to prepare Latvia for possible admission of Latvia to the eurozone.

Griffiths recommended that Latvia draw money from international markets to help it pay off the international loan.