Latvia, forced to seek a 7.5 billion euro (USD 10.11 billion) rescue from the IMF, European Union and other lenders, is to consider setting up a special bad debt vehicle for its banks, the government's letter to the IMF showed on Jan. 7. The government, which published on its website its letter of intent to the Fund and which details the tough medicine Latvia needs, also reiterated that stability of the lat currency was a top goal. The central bank would agree any changes in reserve requirements with the Fund, the letter added.
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