Latvia PM dismisses devaluation advice

Latvia's prime minister has parried claims by a former governor of the Riksbank that the lats will need to be devalued in the near future.

Bengt Dennis, the head of the Riksbank from 1982 until 1994 and now an adviser to the Latvian government, told STV, a Swedish television channel, on Monday: "The timing is always uncertain. But I think we have moved past the issue of if there will be a devaluation and should concentrate on how it should be carried out."

But Valdis Dombrovskis, Latvia's pri