Latvia (Republic of) Jul 05

Standard & Poors, July 2005

Abstract
A track record of sound macroeconomic management, structural reforms, and favorable fiscal indicators. Strong growth prospects. The prospect of EMU membership before the end of the decade, which will remove balance-of-payments constraints. Low wealth levels. Weak external liquidity indicators. Lingering governance problems. The ratings on the Republic of Latvia are supported by a track record of sound macroeconomic management and favorable fiscal indicators, and the authorities' firm commitment to deepening market-based reforms. This consistent macroeconomic policy mix safeguards the sustainability of the fixed exchange rate regime. Furthermore, strong investment activity, buoyant private consumption, and ongoing structural reforms support prospects for robust output growth of 5.5%-7.5% per year in the short-to-medium term. Recent rapid credit growth, however, warrants close monitoring of...

Companies mentioned in this report are:
- Latvia (Republic of)

Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

- Latvia (Republic of)

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