Dictionary
lats
noun
Staves; pillars.
synonyms
Ai Feedback
Exact(60)
And in the unlikely event that you are off to do some shopping in Latvia, leave your lats at home and take euros instead: the Baltic republic becomes the 18th country to join the single currency zone.
As a stopgap measure, the Swedish and Danish central banks this week offered a combined €500m in short-term swap facilities, allowing the central bank to keep exchanging lats for euros.
Or in Latvian (where male singular nouns usually end with an s), one lats, two lati.
If people want to switch, they can, but as interest rates rise, holding lats becomes more attractive, he argues.
Any delay risks creating new room for speculators to try to attack the currency, and for locals to panic and turn more lats into euros (after some unwise remarks by the finance minister about a possible devaluation, the central bank lost more than €100m in reserves in a single day).
And from January, in any language, no lats at all.
International lenders had softened the target to a mere 8.5% of GDP; the government still had to push through spending cuts of 500m lats to meet this.But this week Mr Dombrovskis startled outsiders by saying that cuts of only 225m lats would be necessary.
Before writing this diary, your correspondent was trying to do his expenses a task that represents a weekly high-water mark for a journalist's numeracy (and, it is rumoured, creativity).The Economist's internal expenses form allows claims in Zambian Kwacha but not Estonian kroons, or lats (Latvia) or litas (Lithuania).
Having pushed the central bank into printing 200m lats ($390m) to support Parex, the government is now nationalising it.Assuming that the bilateral elements in the plan are finalised, it may yet be agreed upon at an IMF board meeting shortly before Christmas.
But the currency, the lats, is pegged to the euro, so the central bank's ability to raise interest rates is constrained.
He has pencilled in a further 100m lats in better tax revenues counting, apparently, on a faster economic recovery than anyone expects.
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