Lower house to debate aid to Latvia

The lower house of Parliament will hold an extraordinary session next Tuesday to discuss a programme of state bonds in aid of Latvia's economy, The Czech Republic is to lend Latvia 200 million euros to help it weather the economic crisis. The seven-year interest-free loan is to be financed by state bonds. Latvia has asked the EU for aid to the tune of 7.5 billion euros. Individual member states are to provide 3.1 billion euros, the rest will come from the International Monetary Fund. According to figures published by the European Commission Latvia's economy will decline by 6.9 percent, the steepest drop in the EU.