Latvia had current-account surplus in December
12.02.2010, 15:30Latvia had a current-account surplus in December, mainly thanks to a drastic fall in imports caused by the collapse in consumer spending.
The surplus narrowed to 24.3 million lats ($46.5 million) from 131.9 million lats in November, Latvian central bank said today, reported Bloomberg.
The Baltic country obtained a 7.5 billion-euro loan from a group led by the European Commission and the International Monetary Fund after its second-biggest bank needed a state bailout. The economy contracted a preliminary 17.7% in the fourth quarter.