Joint Chamber Dinner with Mārtiņš Kazāks, Governor of the Bank of Latvia

Wednesday, March 4, 2020 - 17:00 to 20:00

Joint Chamber Business Dinner with Dr. oec. Mārtiņš Kazāks, the Governor of the Bank of Latvia was held on 4 March at Radisson Blu Elizabete Hotel. The Dinner was organised by British, Irish, Norwegian, Swedish and Swiss Chambers of Commerce and supported by Danish and Finnish Chamber of  Commerce in Latvia. 

During the presentation, Mārtiņš Kazāks talked about global and local future challenges that are expected to have an impact on Latvia's economy -  Corona virus (COVID-19) being on the top of the list right now due to uncertainty how it will evelove. The Governor also pointed out that the economy is much more diversified and Latvia is much better shaped for recession than it was before the previous economic downturn. The recent work done on AML will have a big impact on lending, it is also improtant to explain to banks what they can and what they cannot do, as there is no choice to avoid risks, owever there is a choice to manage risks.

Mārtiņš Kazāks also talked about the importance of Latvia's territorial reform and unlocking its potential. Talking about the future, the main focus areas for Latvia are the reforms in education, infrastructure as well as healthcare system.

Mārtiņš Kazāks' presentation is available here.

Photos from the event are available here.