Together with decisions made by the Cabinet of Ministers (CoM) on Tuesday, 27 July, and Thursday, 29 July, regarding the joint-stock company “Parex banka” the government has made all necessary decisions for successful further restructuring – division of Parex bank as of 1 August.   

On Friday, July 23, mandated by the Economic and Financial Affairs Council the Committee of European Banking Supervisors (CEBS) in cooperation with the European Central Bank, the European Commission and the EU national supervisory authorities conducted the EU-wide stress test exercise. The test was aimed at assessing the vitality of biggest European bank groups under different economic development scenarios.

On Wednesday, July 21, the Board of International Monetary Fund approved the new Letter of Intent of the Republic of Latvia determining further measures for economic stabilisation. Having approved the Letter the Board formally decided to provide Latvia with the next payment within the framework of the international loan programme in amount of 105 million euro.

Latvia and EC signed Supplemental Memorandum of Understanding

Memorandum of Understanding between Latvia and EU approved

The shadow economy reduction plan offers to facilitate formal economy and burden informal economy

Repše: tax revenue is collected according to the plan

Approved EU fund projects amount to 55% of the financing allocated to Latvia

The review mission of the partners of the international loan program has successfully completed

Operative data on budget execution in April 2010