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Latvia— Latvia's central bank said Wednesday that its economy will have lost over a third of its value over the past two years due to the recession. The Bank of Latvia wrote in its macroeconomics report that compared with the...

Spending will be cut by 320m lats(£425m; $673m) and revenues raised by 180m lats to reach a 500m-lats target. This was the adjustment it agreed with the EU in exchange for 7.5bn euros ($11bn;£6.9bn) of emergency loans. Prime Minister Valdis...

He ruled out a devaluation of the country's currency and said the Baltic state was now on target to meet European Union budget deficit limits. Mr Dombrovskis predicted the deficit would fall to 10% this year, and 8.5% in 2010....

Ongoing squabbling between members of the government's five-party coalition recently caused it to row back from the 500 million lat (�711m) deficit cut agreed for this year...This will be achieved through 320 million lats of spending cuts and 180 million...

Latvia— Latvia's prime minister on Tuesday asked legal experts to draft legislation that would protect financially troubled homeowners from banks out to collect the full value of mortgages or foreclose on real estate. Valdis Dombrovskis wants to see amendments that...

Latvian Prime Minister Valdis Dombrovskis said Monday he is willing to make changes to his 2010 budget proposal to secure a planned international crisis loan. Dombrovskis told The Associated Press he was open to a debate about the conditions for...

Latvia threatens foreign banks with huge losses Crisis-hit Baltic state proposes emergency law to slash mortgageholders' liabilities to lenders Latvia's Prime Minister Valdis Dombrovskis: "Some balance has to be found between borrowers and lenders".