On the occasion of the forthcoming accession of the Republic of Latvia to the European Stability Mechanism (ESM), the Latvian Finance Minister Andris Vilks and ESM Managing Director Klaus Regling met today in Riga. At the Finance Minister’s invitation Mr. Regling is in Riga for talks today and tomorrow. He will also meet with the Prime Minister, the Central Bank Governor and Members of the Latvian Parliament.
On Tuesday, 14 January, Latvia after a six-year interval and shortly after the introduction of the euro has successfully sold seven-year bonds amounting to one billion euros with a fixed interest (coupon) rate 2.625% a year (profitability 2.815%). Demand for Latvia’s bonds four times exceeded supply.
Today, the inter economic forecast of the Eurozone was presented by EY in Tallinn, commented by the Latvian Minister of Finance, Andris Vilks, and the Estonian Minister of Finance, Jürgen Ligi. According to the forecast, Estonian economy will grow by 2.5% in 2014, and the newcomer’s – Latvia’s – economy by 4.2%, which will make Latvia the Eurozone country with the most rapidly growing economy, ahead of Estonia.