Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Latvia Poised to Meet Euro-Adoption Criteria for 2014, IMF Says

Jan. 28 (Bloomberg) -- Latvia meets most euro-adoption criteria and is poised to join the currency area as planned in 2014, the International Monetary Fund said.

The Baltic country already meets state-debt and budget-deficit thresholds, the Washington-based lender said today in an Article IV and staff report.

“Prospects for meeting the inflation and interest rates are more uncertain, since these criteria depend on the EU institutions’ determination of the countries to be used for the reference value calculation,” the IMF said. Representatives from the European Commission and European Central Bank “assured the authorities the criteria would be applied fairly.”

Latvia agreed on a 7.5 billion-euro ($10.1 billion) bailout in 2008 after its second-biggest bank needed a state rescue and a real estate bubble burst. It kept its currency, the lats, pegged to the euro even as the economy plunged by more than 20 percent in 2008-2009, the biggest collapse in output in the world at the time.

Gross domestic product, which advanced 5.7 percent in the first three quarters of 2012, may expand 3.7 percent this year, before accelerating to about 4.2 percent in 2014-2015, the IMF said.

To contact the reporter on this story: Aaron Eglitis in Riga at

To contact the editor responsible for this story: Balazs Penz at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.