...

Latvia's government resigns amid economic crisis

Other News Materials 20 February 2009 17:45 (UTC +04:00)

Latvia's president says the Baltic country's center-right coalition government has resigned, AP reported.

President Valdis Zatlers says he accepted the resignation of Prime Minister Ivars Godmanis and his administration.

Friday's announcement came after the two largest coalition parties urged Godmanis to step down.

The move follows weeks of political instability as the Latvian economy nosedives after years of strong growth.

International lenders including the EU, the International Monetary Fund and Nordic countries have pledged euro7.5 billion (US$9.5 billion) in financial assistance to help Latvia recover.

Latest

Latest