Tuesday, July 21, 2009

Danske: Latvia Cannot Ignore The IMF

Danske Bank has made a conclusion today:
  • The European Commission published a Supplemental Memorandum of Understanding between the Latvian government and the EU.
  • The MoU shows that half of the instalment of the EU loan to Latvia is earmarked for the financial sector. This leaves less money to cover the gap in the central government budget.
  • Therefore, the Latvian government might not be able to meet its funding needs forthe rest of the year unless the country gets the next instalment of its IMF loan.
The full report here!
I am looking at the last bullet point in the conclusions, and keeping in mind the masochists ...

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