ECB welcomes proposed reforms to Latvian central bank

Bank of Latvia
The Bank of Latvia

The European Central Bank welcomed a series of changes that Latvia’s government proposes to make to the laws governing the central bank.

The ECB said in an official opinion that the changes did confer a number of new tasks on the Bank of Latvia, but said they were tasks usually undertaken by central banks. Latvia is a member of the European Union and the eurozone, and its governor sits on the ECB’s governing council.

Latvia’s government has proposed making the changes after a major scandal

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