Latvia Close To Agreement With IMF, EU And Sweden.

BLOOMBERG/
“Latvia is on the way to coming to an agreement with its international lenders,” said Liga Krapane, Prime Minister Valdis Dombrovskis’s spokeswoman.
The IMF, European Union and Sweden agreed to loan Latvia 7.5 billion-euro ($11 billion) in December and have vigorously urged Dombrovskis to cut budget some 500 million lati ($1 billion) a year until 2012. Swedish Premier Fredrik Reinfeldt said on Oct. 5 Latvia “must correct” its deficit and Riksbank Governor Stefan Ingves has said the country may be left “in the cold” if it doesn’t comply.