Einars Repse, Latvia's finance minister and a former governor of the Bank of Latvia, on 29 May reinforced comments by Ilmars Rimsevics, the governor, that the country was not facing a currency devaluation.
Rimsevics said that a devaluation would be "poison" for the country, but a former prime minister has called for a 30% devaluation to boost the economy.
"There will be no lat devaluation," said Repse, who was governor of the central bank from its re-constitution in 1992 to 2001, adding tha
- A route to economic growth – The Belt and Road Initiative 2018 survey
- ECB will ‘accelerate efforts’ to tackle staff concerns after second survey
- After the Congress – Interpreting China’s new development concept
- Asian Infrastructure Investment Bank – Raising expectations
- Do not discount central bank digital currency yet – Lagarde