Crisis To Deepen

January 2009
Emerging Europe Monitor: Central Europe & Baltic States;Jan2009, Vol. 16 Issue 1, p1
Country Report
The article presents the economic forecast of the Business Monitor International (BMI) for Latvia for 2009. According to BMI, economic outlook for the country is very bleak as compounded by sharply contracting economic growth in third quarter and a run on a major domestic bank in November 2008. A protracted recession over the medium term is also expected by BMI. Also noted are economic risks like the current global financial crisis and the resulting capital shortage.


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