FT.com / Brussels – Lativa to receive €7.5bn in financial aid

The package represents about a third of the country’s gross domestic product, much larger in relative terms than the earlier bail-out of Hungary, reflecting the size of Latvia’s macro-economic imbalances following a credit binge on EU accession in 2004.

The European Union will contribute €3.1bn $4.3bn, £2.9bn, the IMF €1.7bn, Nordic countries €1.8bn, with €400m coming from the World Bank and another €500m from the Czech Republic, Poland, Estonia and the European Bank for Reconstruction and Development.

The big contribution from Nordic countries reflects their long-standing ties with the Baltic region and their huge investment there, not least in the banking sector.

via FT.com / Brussels – Lativa to receive €7.5bn in financial aid.


About zyakaira

Investment Banker, 40s, Bangalore This Biopic and this web recreates how one point of view, one person can impact a tremendous economic engine that the world thrives and mis-thrives on. This one has the knowledge and the civil sense , the art of conversation and some good writing to mentor others as powerful and help global managers develop and fine tune their approach on US markets, China, India and the world. Read on here, and let me know what you need. It can be a race for TRPs, a race for new markets and a race to do what is right. I have the pulse of the crisis, the recovery and the market direction and can help you build and refine your strategy as i have helped thousands of managers and multiple global corporations. Of course, it’s more fun if you talk to me. I am in favor of leading this moving of the economic crisis and will partner with you in a soft and subtle way, just the way we both ride to the top. But you can write with us, opine and just reply with aplomb and shine on Twitter , 4 square , Facebook and any other social “choupal” of choice via zyaadakairaada Profile & Portfolio - SocialPicks Different flavours at: http://benchilibowl.wordpress.com http://zyaada.mp

Posted on December 25, 2008, in Global, Meltdown. Bookmark the permalink. Leave a comment.

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