Overview
Latvia is situated in the Baltic region of Eastern Europe. It is bordered by Estonia, Lithuania, the Russian Federation, Belarus and the Baltic Sea, across which lies Sweden. Latvia is a unitary parliamentary republic, and is divided into 118 metropolises- 109 counties and 9 cities. The capital is Riga. Latvia is one of the least populous countries in the European Union, with a population of 2.23 million.
Latvia’s economy was hit the hardest of the European Union members during the most recent global financial crisis. Its GDP declined 26.54%. Latvia is the third-poorest member state.
Finance Information
The Bank of Latvia
Bank Governor: Ilmars Rimsevics