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Latvia seeks to rebuild its financial reputation, resume transactions in USD - PM
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    Latvia seeks to rebuild its financial reputation, resume transactions in USD - PM

    RIGA, June 13 (LETA) - Latvia's goal is to rebuild its internationally damaged financial reputation and to achieve resumption of transactions in U.S. dollars therefore the government is paying increased attention to the voluntary liquidation of ABLV Bank, Prime Minister Maris Kucinskis (Greens/Farmers) said on the LNT commercial television.

    He said that the U.S. statements about ABLV Bank had significantly shaken the Latvian financial system and it will take quite a while to recover from this.

    As Latvia wants to achieve resumption of transactions in U.S. dollars, it had supplied the U.S. authorities with detailed information about the liquidation of ABLV Bank, for example, during the meeting with Marshall Billingslea, Assistant Secretary for Terrorist Financing in the U.S. Department of the Treasury, last week.

    Voluntary liquidation would have been simple, if the bank was let to do it on its own, but the government is interested in keeping an eye on the process, the Latvian prime minister said, adding that the international community had skeptical attitude to voluntary liquidation.

    He vowed that the government would be monitoring all money transfers out of ABLV Bank during the liquidation process.

    • Published: 13.06.2018 10:26
    • LETA
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