Publication:
Financial Sector Assessment : Republic of Latvia

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dc.contributor.authorWorld Bank
dc.date.accessioned2013-09-27T18:43:47Z
dc.date.available2013-09-27T18:43:47Z
dc.date.issued2012-06
dc.description.abstractLatvia has a well-developed financial sector, but in the aftermath of the 2008-09 global financial crisis, access to finance has become a major constraint for the development of private enterprises. Credit to the private sector in Latvia, at above 100 percent of Gross Domestic Product, or GDP, is one of the highest in Eastern Europe, after significant growth over the last decade. However, in the aftermath of the 2008-09 financial crisis, credit growth has been negative (average annual growth of -7 percent between FY2009-2011) and access to finance has become one of the most significant obstacles for growth according to enterprises (close to 30 percent of firms identify it as an obstacle in 2009, versus 2 percent before the crisis). This contributed to a significant decline in the volume of private investment, which dropped by 48 percent between 2008 and 2010. Credit constraints are more severe in specific segments, including smaller firms. In response to these challenges, the Government has supported credit to the private sector through various instruments, some of which may need to be reviewed. Support has been provided through various financial instruments aimed at enhancing the accessibility and affordability of credit and implemented trough public bodies and commercial financial intermediaries. It will also be important to ensure the programs create adequate incentives for financial intermediaries to expand services to underserved markets in a sustainable manner, and that the programs lever the established capacity and expertise of robust commercial lenders, minimizing competition with such lenders.en
dc.identifierhttp://documents.worldbank.org/curated/en/2012/06/16473138/latvia-financial-sector-assessment
dc.identifier.doi10.1596/15911
dc.identifier.urihttps://hdl.handle.net/10986/15911
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCESS TO FINANCING
dc.subjectACCOUNTING
dc.subjectACCOUNTS RECEIVABLE
dc.subjectAMOUNT OF CAPITAL
dc.subjectARBITRATION
dc.subjectARREARS
dc.subjectAUCTION
dc.subjectAUCTIONS
dc.subjectAVAILABILITY OF BANK FINANCING
dc.subjectBAILIFF
dc.subjectBAILIFFS
dc.subjectBANK ACCOUNTS
dc.subjectBANK BONDS
dc.subjectBANK CREDIT
dc.subjectBANK GUARANTEE
dc.subjectBANK LENDERS
dc.subjectBANK LENDING
dc.subjectBANK LOANS
dc.subjectBANKING SECTOR
dc.subjectBANKING SYSTEM
dc.subjectBENEFICIARIES
dc.subjectBOND
dc.subjectBOND MARKETS
dc.subjectBONDS
dc.subjectBROKERAGE
dc.subjectCAPITAL ADEQUACY
dc.subjectCAPITAL GAINS
dc.subjectCAPITAL INVESTMENTS
dc.subjectCAPITAL MARKET
dc.subjectCAPITAL MARKETS
dc.subjectCAPITALIZATION
dc.subjectCASH FLOW
dc.subjectCASH MANAGEMENT
dc.subjectCENTRAL BANK
dc.subjectCENTRAL BANKS
dc.subjectCENTRAL DEPOSITORY
dc.subjectCENTRAL SECURITIES DEPOSITORY
dc.subjectCHECKING ACCOUNT
dc.subjectCOLLATERAL
dc.subjectCOLLATERAL REQUIREMENTS
dc.subjectCOLLATERALIZATION
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMERCIAL CREDIT
dc.subjectCOMMERCIAL LAW
dc.subjectCOMMERCIAL PLEDGE
dc.subjectCOMMERCIAL PLEDGES
dc.subjectCOMMERCIAL TERMS
dc.subjectCONSUMER PROTECTION
dc.subjectCORPORATE BONDS
dc.subjectCORPORATE GOVERNANCE
dc.subjectCREDIBILITY
dc.subjectCREDIT APPRAISAL
dc.subjectCREDIT CONSTRAINTS
dc.subjectCREDIT DECISIONS
dc.subjectCREDIT GROWTH
dc.subjectCREDIT GUARANTEE
dc.subjectCREDIT GUARANTEES
dc.subjectCREDIT HISTORY
dc.subjectCREDIT INFORMATION
dc.subjectCREDIT INFORMATION REGISTRY
dc.subjectCREDIT INSTITUTIONS
dc.subjectCREDIT MARKET
dc.subjectCREDIT SCORING
dc.subjectCREDIT UNION
dc.subjectCREDIT UNIONS
dc.subjectCREDITOR
dc.subjectCREDITOR RIGHTS
dc.subjectCREDITORS
dc.subjectCREDITWORTHINESS
dc.subjectCURRENCY
dc.subjectCURRENCY BOARD
dc.subjectCURRENCY RISK
dc.subjectDEBT
dc.subjectDEBT ISSUANCE
dc.subjectDEBTOR
dc.subjectDEBTORS
dc.subjectDEBTS
dc.subjectDEED
dc.subjectDEEDS
dc.subjectDEMAND FOR CREDIT
dc.subjectDEPOSIT
dc.subjectDEPOSIT INSURANCE
dc.subjectDEPOSITOR
dc.subjectDEPOSITORS
dc.subjectDEPOSITS
dc.subjectDOMESTIC BONDS
dc.subjectDOMESTIC CAPITAL
dc.subjectDOMESTIC CAPITAL MARKET
dc.subjectDOMESTIC CAPITAL MARKETS
dc.subjectDOMESTIC MARKET
dc.subjectDUE DILIGENCE
dc.subjectENFORCEMENT PROCESSES
dc.subjectEQUIPMENT
dc.subjectEQUITY FINANCING
dc.subjectEQUITY INSTRUMENTS
dc.subjectEXCHANGE RATE
dc.subjectEXPORT GROWTH
dc.subjectEXPORTERS
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INSTITUTION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INSTRUMENTS
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SECTOR DEVELOPMENT
dc.subjectFIXED ASSET
dc.subjectFIXED INCOME
dc.subjectFIXED INCOME PORTFOLIO
dc.subjectFORECLOSURE
dc.subjectFOREIGN BANK
dc.subjectFOREIGN BANKS
dc.subjectFOREIGN FINANCING
dc.subjectFOREIGN INVESTORS
dc.subjectFRAUD
dc.subjectFUND MANAGERS
dc.subjectGOVERNMENT SUPPORT
dc.subjectHOST COUNTRIES
dc.subjectIMMOVABLE ASSETS
dc.subjectINDIVIDUAL INVESTORS
dc.subjectINSTITUTIONAL CAPACITY
dc.subjectINSTITUTIONAL INVESTOR
dc.subjectINSTITUTIONAL INVESTORS
dc.subjectINSURANCE COMPANIES
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL CREDIT
dc.subjectINVESTING
dc.subjectINVESTMENT FUND
dc.subjectINVESTMENT FUNDS
dc.subjectINVESTMENT REGULATION
dc.subjectINVESTOR BASE
dc.subjectISSUANCES
dc.subjectLACK OF COLLATERAL
dc.subjectLEGAL ENVIRONMENT
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGAL PROTECTION
dc.subjectLEGAL REFORMS
dc.subjectLEGAL SYSTEM
dc.subjectLENDERS
dc.subjectLINE OF CREDIT
dc.subjectLIQUIDATION
dc.subjectLIQUIDATIONS
dc.subjectLOAN
dc.subjectLOAN AMOUNT
dc.subjectLOAN APPLICATIONS
dc.subjectLOAN GUARANTEE
dc.subjectLOAN PORTFOLIO
dc.subjectLOAN PORTFOLIOS
dc.subjectLOAN SIZE
dc.subjectLOCAL BANK
dc.subjectLOCAL CURRENCY
dc.subjectLOCAL DEBT
dc.subjectLOCAL MARKET
dc.subjectLONG-TERM CAPITAL
dc.subjectMARKET CONDITIONS
dc.subjectMARKET CONFIDENCE
dc.subjectMARKET DISTORTIONS
dc.subjectMARKET INFRASTRUCTURE
dc.subjectMARKET LIQUIDITY
dc.subjectMARKET PARTICIPANTS
dc.subjectMARKET SHARE
dc.subjectMATURITIES
dc.subjectMICRO ENTERPRISE
dc.subjectMICRO ENTERPRISES
dc.subjectMICROENTERPRISES
dc.subjectMICROFINANCE
dc.subjectMICROFINANCE INSTITUTIONS
dc.subjectMONEY LENDERS
dc.subjectMONEYLENDERS
dc.subjectMORTGAGE
dc.subjectMOVABLE ASSETS
dc.subjectNON-PERFORMING LOANS
dc.subjectNPL
dc.subjectOPEN ECONOMY
dc.subjectPARTIAL CREDIT
dc.subjectPAYMENT SYSTEM
dc.subjectPAYMENT SYSTEMS
dc.subjectPENSION
dc.subjectPENSION FUND
dc.subjectPENSION FUNDS
dc.subjectPENSION SYSTEM
dc.subjectPERSONAL GUARANTEES
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO VALUATION
dc.subjectPRIVATE BANKS
dc.subjectPRIVATE CREDIT
dc.subjectPRIVATE CREDIT BUREAU
dc.subjectPRIVATE CREDIT BUREAUS
dc.subjectPRIVATE EQUITY
dc.subjectPRIVATE FINANCIAL INSTITUTIONS
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE LENDERS
dc.subjectPRIVATE PROPERTY
dc.subjectPROPERTY RIGHTS
dc.subjectPUBLIC FUNDS
dc.subjectPUBLIC REGISTRY
dc.subjectREGISTRATION SYSTEM
dc.subjectREGULATORY FRAMEWORK
dc.subjectRELIANCE ON COLLATERAL
dc.subjectREPOSSESSION
dc.subjectRESERVES
dc.subjectRESIDENTIAL MORTGAGES
dc.subjectRETURN
dc.subjectRETURN ON ASSETS
dc.subjectRETURNS
dc.subjectRISK AVERSION
dc.subjectRISK MANAGEMENT
dc.subjectRISK OF DEFAULT
dc.subjectSECURITIES
dc.subjectSECURITIES LAW
dc.subjectSECURITIES LAWS
dc.subjectSECURITY INTEREST
dc.subjectSECURITY INTERESTS
dc.subjectSETTLEMENT
dc.subjectSETTLEMENT SYSTEMS
dc.subjectSHORT MATURITY
dc.subjectSMALL BUSINESS
dc.subjectSOVEREIGN RATING
dc.subjectSTATE BANKS
dc.subjectSTOCK EXCHANGE
dc.subjectSTOCK EXCHANGES
dc.subjectSTOCK MARKET
dc.subjectSTOCK MARKETS
dc.subjectSTOCKS
dc.subjectSTRATEGIC INVESTORS
dc.subjectSUPPLY OF CREDIT
dc.subjectTAX
dc.subjectTAX REGIME
dc.subjectTERRORISM
dc.subjectTRADE CREDIT
dc.subjectTRADING
dc.subjectTRANSACTION
dc.subjectTRANSPARENCY
dc.subjectTURNOVER
dc.subjectVARIABLE RATES
dc.subjectWITHDRAWAL
dc.subjectWORKING CAPITAL
dc.titleFinancial Sector Assessment : Republic of Latviaen
dspace.entity.typePublication
okr.date.disclosure2013-06-14
okr.date.doiregistration2025-05-07T09:47:23.844683Z
okr.doctypeEconomic & Sector Work::Financial Sector Assessment Program (FSAP)
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2012/06/16473138/latvia-financial-sector-assessment
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid273551468266155602
okr.identifier.externaldocumentum000333037_20120706014029
okr.identifier.internaldocumentum16473138
okr.identifier.report70865
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/07/06/000333037_20120706014029/Rendered/PDF/708650BR0SecM20Official0Use0Only090.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryLatvia
okr.sectorFinance :: General finance sector
okr.themeRule of law :: Legal institutions for a market economy
okr.themeFinancial and private sector development :: Regulation and competition policy
okr.themeFinancial and private sector development :: Standards and financial reporting
okr.themeTrade and integration :: International financial architecture
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicBanks and Banking Reform
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicFinance and Financial Sector Development::Bankruptcy and Resolution of Financial Distress
okr.unitFinancial Sector Assessment Prog (FFSFP)
okr.volume1 of 1
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