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Europe Live Saturday 25th May 2013

IMF congratulates Latvia

23rd July 2012

In a report published on 16th July 2012 the IMF congratulated Latvia for its economic recovery; the economy is due to grow this year by 3.5%. However it stressed the need to counter high unemployment that is affecting 15% of the population. The IMF also recommended the government to plan the issue of bonds in order to help it "protect itself against an unexpected downturn in Latvia's foreign situation." Finally the report indicates that Lativa "has a fair chance" of achieving its goal of adopting the euro in 2014.

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