Bloomberg News

IMF Advises Latvia to Adopt Euro for Lower Rates, Telegraf Says

June 26, 2012

The International Monetary Fund is advising Latvia to adopt the euro as soon as possible to help cut borrowing costs by 50 to 100 basis points, Telegraf reported today, citing Mark Griffiths, the lender’s mission chief to the Baltic nation.

The government should also consider raising the real estate tax to boost budget revenue and increasing the income-tax threshold, he said, according to the newspaper.

To contact the reporter on this story: Milda Seputyte in Vilnius at

To contact the editor responsible for this story: Balazs Penz at

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