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. Last Updated: 07/27/2016

IMF Praises Latvia

WASHINGTON -- The International Monetary Fund has praised Latvia's prudent economic policies but said it was worried about plans to widen the fiscal deficit.

A document summarizing a July 28 review of Latvia's economy said Russia's economic crisis had hit the Baltic state hard, although growth was a satisfactory 3.6 percent last year.

A volatile world financial system meant Latvia, where the current account doubled last year, needed to watch its external position carefully, the fund said.