EU Gives Latvia EUR1.2 Billion For 2nd Aid Installment

Mon, Jul 27 2009, 17:12 GMT
http://www.djnewswires.com/eu

UPDATE: EU Gives Latvia EUR1.2 Billion For 2nd Aid Installment (Adds Romania data.) BRUSSELS -(Dow Jones)-
The European Commission Monday gave Latvia EUR1.2 billion, the second installment of a EUR7.5 billion financial aid package created with the International Monetary Fund. The second installment of this aid came with conditions. Latvia was required to take steps to curb public spending, aiming to bring its budget deficit below 3% of gross domestic product by 2012.

The commission separately gave Romania EUR1.5 billion, the first installment of a EUR5 bullion aid package arranged in May. The commission said a further EUR1 billion payment will be made later in the year, subject to conditions that weren't specified. -By Adam Cohen, Dow Jones Newswires; +322 741 1486; adam.cohen@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=LYcVE3ap0hNO2rEQUuy7Bw%3D%3D. You can use this link on the day this article is published and the following day.