The Republic of Latvia

The Republic of Latvia PDF

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2002-03-22

Total Pages: 62

ISBN-13: 145182453X

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This paper presents key findings of Latvia’s Financial System Stability Assessment, including Reports on Observance of Standards and Codes on Banking Supervision; Payment Systems; Securities Regulation; Insurance Regulation; Corporate Governance; and Monetary and Financial Policy Transparency. The assessment reveals that the banking system of Latvia is well capitalized, profitable, and liquid following its recovery from the effects of the Russian crisis in 1998. A notable feature of the financial system is the significant share of nonresident deposits and foreign equity in the banking system and nonresident investment in the securities market.

How Latvia Came Through the Financial Crisis

How Latvia Came Through the Financial Crisis PDF

Author: Anders Åslund

Publisher: Peterson Institute

Published: 2011

Total Pages: 159

ISBN-13: 088132602X

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Latvia stands out as the East European country hardest hit by the global financial crisis; it lost approximately 25 percent of its GDP between 2008 and 2010. It was also the most overheated economy before the crisis. But in the second half of 2010, Latvia returned to economic growth. How did this happen so quickly? Current Latvian Prime Minister Valdis Dombrovskis, who shepherded Latvia through the crisis, and renowned author Anders slund discuss why the Latvian economy became so overheated; why an IMF and European Union stabilization program was needed; what the Latvian government did to resolve the financial crisis and why it made these choices; and what the outcome has been. This book offers a rare insider's look at how a national government responded to a global financial crisis, made tough choices, and led the country back to economic growth.

Republic of Latvia

Republic of Latvia PDF

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2007-06-04

Total Pages: 19

ISBN-13: 145194697X

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This report reviews the Observance of Standards and Codes on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for the Republic of Latvia. Latvia has taken strong measures in recent years, through legislative amendments and improvements in implementation, to address deficiencies in its AML/CFT framework and move closer to compliance with the Financial Action Task Force (FATF) Recommendations. Most of the necessary AML/CFT institutions and legal framework are now in place, although coverage of some designated nonfinancial businesses and professions (DNFBPs) is not yet complete.

Latvia Diagnostic Review of Consumer Protection and Financial Capability

Latvia Diagnostic Review of Consumer Protection and Financial Capability PDF

Author: Weltbank

Publisher:

Published: 2010

Total Pages:

ISBN-13:

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The Diagnostic Review of Consumer Protection and Financial Capability in Latvia is the ninth report in a World Bank-sponsored pilot program to assess consumer protection in financial services in developing and middle-income countries. The publication of the Diagnostic Review for Latvia aims to enhance development of financial consumer protection both in Latvia and worldwide. The Review is presented in two volumes. Volume I notes the importance of consumer protection in financial services, describes the Government's policy strategy for financial consumer protection, provides statistics on the size and growth of the retail financial sector in Latvia, and sets out the key findings and recommendations of the Review. Volume II provides an assessment of the Latvian consumer protection institutional and legal framework and practices against the benchmark of Good Practices for six segments of the financial sector--banking, nonbanking credit institutions, securities, insurance, private pensions and credit reporting systems.

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