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. Last Updated: 07/27/2016

IMF Scolds Latvia

RIGA, Latvia () -- The International Monetary Fund has advised Latvia to cut its budget deficit and estimates last year's economic growth was sluggish, the Latvian Finance Ministry said Wednesday.

An IMF mission of inspection was happy with some aspects of Latvian economic policy, including more stringent new banking laws in the wake of the country's unsettling banking crisis last year.

The mission left Latvia today after a two-week study of the country's economic situation.