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Rated the third poorest country in the European Union, Latvia outperformed almost all its rivals, turning in GDP growth of 4% for 2013 and with the IMF forecasting growth in 2014 at 4.2%. Latvia adopted the Euro in January 2014 after meeting EU convergence criteria in June 2013. The country was hit hard by the global crash of 2008 and was bailed out by the IMF, but repaid the loan in full and ahead of schedule in 2012. According to the IMF, Latvia has regained macroeconomic stability and its economic recovery is now well established. Valdis Dombrovskis, Latvia’s prime minister from 2009 to 2013, argues that joining the Eurozone will help to promote foreign direct investment in Latvia.

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Further reading on Latvia


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