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Sweden and Denmark grant loans to Latvia.

Global Banking News-17 December 2008-Sweden and Denmark grant loans to Latvia(C)2008 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 17 December 2008(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

Latvia's central bank has received a loan from the central banks of Sweden and Denmark.

The central banks of Sweden and Denmark have decided to enter into swap agreements with the central bank of Latvia. As per the agreement, Latvia's central bank may borrow up to EUR500m in exchange for Latvian lats.

The Swedish central bank said that the swap agreements 'provide short-term funding in order to assist the preservation of macroeconomic and financial stability in Latvia. It is important that central banks cooperate and assist each other in times of financial crisis.'

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Publication:Global Banking News (GBN)
Date:Dec 17, 2008
Words:150
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