tag:blogger.com,1999:blog-7336648542166394110.post1213714520871371119..comments2023-06-05T08:10:46.298-07:00Comments on Edward.Hugh.Blog: Latvia - Devalue Now or Devalue Later?Unknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7336648542166394110.post-26038680717095440992009-06-07T17:29:37.022-07:002009-06-07T17:29:37.022-07:00Edward, very nice overview of Latvia's current...Edward, very nice overview of Latvia's current predicament.<br /><br /> I agree with you that despite Latvia being such a small country, a focu on what's happening there is important as you stated because it's "at the heart of a massive experiment" and also because of the knock-on effects of a devaluation on the region as a whole.<br /><br />I think Latvia's woes undermine a once popular argument that the IMF's growing presence in Eastern Europe would insulate individual countries, as well as the region, from crisis (e.g. sovereign defaults, currency crises, etc.). I think Latvia's current predicament highlights that argument's flaws.Mary Stokesnoreply@blogger.com