IMF Begins First Mission Under New Head in Latvia
The International Monetary Fund (IMF) is currently conducting an interim mission in Riga, Latvia, from February 17 to 21. This visit is the first for the new Head of Mission to Latvia, Luis Brandao Marques, who succeeds Alfred Kammer.
IMF missions, held under Article 4 of its Articles of Agreement, are regular surveillance visits to assess member countries' economic situation and policies. Latvia, which joined the IMF on May 19, 1992, typically hosts these missions once a year in the summer.
During the mission, IMF experts meet with various stakeholders, including government representatives, central bank officials, businesspeople, and journalists. They assess a wide range of factors, such as macroeconomic indicators, banking system resilience, financial sector analysis, tax policy, budget planning, and structural reforms. Following the mission, the IMF prepares a report that is discussed with the country and published.
For Latvia, the IMF predicts a GDP growth of 2.3% and an inflation rate of 2.2% in 2025. These predictions, along with the findings from the current interim mission, will help guide the country's economic policies and reforms.
