IMF Recognises Latvian Banking System

Added: 20.06.2016
The International Monetary Fund (IMF) in its current report about Latvia positively recognises stability of our banking system by emphasising sufficiency and cost-effectiveness of capital.
The report recognises the level of sufficiency of the capital of Latvian banks, as well as the reducing number of late credits. The IMF also evaluates that the banks had stable non-resident deposits, while supervision institutions have performed a range of anti-money laundering measures.

At the same time, the report, which is supported by Executive Directors of the IMF, points out a necessity for public institutions to prevent legal and structural constraints for a more rapid development of crediting in the sectors of SMEs and households. The IMF encourages public institutions to continue also strict risk control in the banking field and to align the framework with international standards.

The Executive Board of the IMF concluded the current consultation with Latvia on June 10

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