July 2004
Emerging Europe Monitor: Russia, Ukraine & Baltics;Jul2004, Vol. 8 Issue 7, p7
Country Report
Country Report
This article focuses on Latvia's country risk. The acrimony which currently characterises diplomacy between Riga and Moscow has increased in recent weeks after the government refused to grant a visa to a senior Russian official due to attend an international conference in Latvia. The Central Statistics Bureau has revealed that consumer prices rose at an uncomfortably high rate of 5.0% y-o-y in April. Looking ahead, given our conservative projections for eurozone price levels, we believe that inflation will remain the major limiting factor on Latvia's euro adoption hopes. Latvia maintained the trend of high growth in the Baltic region in 2003 by recording an increase in GDP of 7.5%. Latvian Finance Minister Oskars Spurdzins has signalled that the Baltic state is almost certain to join ERM-2 by 2005.


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