In his speech at the press conference, Finance Minister of Latvia Jānis Vitenbergs confirmed that the country received a letter requesting a deferral of payments totaling 1.2 billion dollars. This letter was sent to Latvia's creditors, and at the moment, it represents a basis for continuing negotiations regarding the country's outstanding debt.
Jānis Vitenbergs also added that the government is striving to reach a compromise with the creditors on the issue of restructuring Latvia's debt. In this case, if the parties manage to reach a mutually acceptable agreement, it will allow to avoid default and fulfill obligations before the creditors. According to the minister, Latvia is focused on restoring its financial sector and rebuilding trust between the country and its creditors. For this, it is necessary to find an optimal solution in an increasingly complicated situation and achieve financial stability.
"We are committed to constructively and positively addressing this problem," emphasized Jānis Vitenbergs.
