Latvian government plans to discuss with international lenders to the diversion of funds earmarked for stabilizing the financial sector, to cover the state budget deficit, Prime Valdis Dombrovskis.

He said that funds intended to stabilize the financial sector, were provisionally divided at the end of last year, when Latvia has concluded with the International Monetary Fund (IMF) and the European Commission (EC) agreement about how to obtain their loan. The loan is expected to send three objectives: fiscal deficit, the repayment of debt and stabilize the financial sector.

Now, when we see that we have more problems with the budget deficit, then, of course, we will discuss the issue with the lenders that a portion of the funds which are provided to stabilize the financial sector that could be allocated to cover the deficit budget , - said V. Dombrovskis.

According to him, at present funds set aside to stabilize the financial sector, the Government placed in the Bank of Latvia and the State Treasury takes an interest. He also stressed that these reserves are the safety cushion. Everyone sees that we have a reserve, and the market calms down, because it reduces nervousness in financial markets, - the prime minister thinks.
Earlier

spokesman said Šneidere Zane State Treasury Agency BNS, that Latvia had not yet begun to spend the resulting international loan, and the State Treasury is 1.566 billion lats (2.23 billion euros - IF), including funds earmarked for stability of the financial sector.

The State Treasury are of 600 million euros to ensure the stability of the financial sector and the overall needs of the state budget received from the EC in late July. In turn, the second tranche of the IMF loan in the amount of 200 million euros approximately 150 million euros earmarked for the needs of the state budget - covering the budget deficit and national debt refinancing, and the remaining approximately 50 million euros earmarked for stabilizing the financial sector.

earlier reported that, as agreed in late 2008, agreement, IMF, EC, World Bank, European Bank for Reconstruction and Development and a number of EU member-states of Latvia provide financial assistance amounting to 7.5 billion euros (5.27 billion lats).

Late last year, approximately 600 million euros in Latvia provided the IMF, in the first quarter of this year, the country received 1 billion euros from the European Commission. She also highlighted July 27 Latvia next tranche of the loan in the amount of 1.2 billion euros.

In turn, the IMF in early September, has remitted to the State Treasury of Latvia next tranche of 200 million euros. Exchange rate is tied to the euro in relation 0,7028 lats per euro.

The government allowed the State Tax Administration to cancel the registration of VAT payers
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