Latvian currency rallies on budget cuts

Article reports that Latvia’s currency stabilised on the 9 June 2009, boosting sentiment towards other eastern European currencies, after the government said it had found another 500m lats (€711m) in budget savings.

ESO: Background information: IMF and EU can help avert panic over Latvia http://www.europeansources.info/record/imf-and-eu-can-help-avert-panic-over-latvia/

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