ECB welcomes proposed reforms to Latvian central bank
Major reforms prompted by series of scandals under former Bank of Latvia governor
The European Central Bank welcomed a series of changes that Latvia’s government proposes to make to the laws governing the central bank.
The ECB said in an official opinion that the changes did confer a number of new tasks on the Bank of Latvia, but said they were tasks usually undertaken by central banks. Latvia is a member of the European Union and the eurozone, and its governor sits on the ECB’s governing council.
Latvia’s government has proposed making the changes after a major scandal
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