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Those who change will endure - IMF managing director
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    Those who change will endure - IMF managing director

    RIGA, June 5 (NOZARE.LV) - "Those who change will endure," IMF Managing Director Christine Lagarde declared in Latvian ("Pastāvēs, kas pārmainīsies") during the opening of today's conference in Riga on the recovery of Baltic economies, quoting the famous Latvian poet, playwright, translator and politician Janis Rainis.

    Lagarde lauded Latvia's accomplishments in bringing order to the country's economy, and emphasized Latvia must complete three more tasks - strive to join the eurozone, promote economic competitiveness, reduce social inequality.

    She pointed out that Latvia must strive to join the eurozone and implement a program to achieve this goal.

    Lagarde admitted that Latvia and other Baltic States must continue with their reforms to strengthen competitiveness, facilitate labor force activity and added that education and professional training must be adapted to market requirements.

    The third most important task for Latvia, according to Lagarde, is active work to ensure social cohesion. At the moment, there is a considerable inequality in terms of income in Latvia's society.

    By implementing its international loan program, Latvia has proven that it can be powerful and disciplined. The IMF is proud to be part of this success story, said Lagarde.

    • Published: 05.06.2012 15:02
    • Airisa Ādamsone,
    • © The given news may not be republished in any way or amount, or otherwise used by the mass media or Internet websites, without written permission of LETA. If this provision is not observed, the matter will be taken to court pursuant to the laws and regulations of the Republic of Latvia.
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