"The effects of recession have significantly impacted the automotive industry in Latvia. Sales have fallen sharply - a stark contrast to the growth posted in the years before the global economic crisis. Latvia had been the EU's fastest growing market between 2005-2007 but has clearly been affected by the broader recessionary trend in the economy."
Wednesday, December 30, 2009
New Report Now Available: Latvia Autos Report 2010
New Report Now Available: Latvia Autos Report 2010
Tuesday, December 29, 2009
Latvia: Back in the News, With More to Come -- Seeking Alpha
Latvia: Back in the News, With More to Come -- Seeking Alpha:
"The Latvian government is getting nervous about the level of lending coming from Swedish banks. According to the Financial Times, 'Latvia’s prime minister has warned Swedish banks they risk choking off recovery in the Baltic state’s crisis-hit economy unless they resume lending.' The Latvian authorities are complaining, it seems, that banks such as Swedbank (SWDBY.PK) and SEB, which dominate the Latvian market, have reined in credit as they struggle to contain rising bad loans amid the deepest recession in the European Union."
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