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Latvia Location : Eastern Europe, bordering the Baltic Sea, between Estonia and Lithuania
Capital City : Riga
Curreny : Latvian lat (LVL)
Languages Spoken : Latvian (official), Lithuanian, Russian, other
Climate : maritime; wet, moderate winters
National Holiday : Independence Day, 18 November (1918); note - 18 November 1918 is the date of independence from Soviet Russia, 21 August 1991 is the date of independence from the Soviet Union
Background Information
After a brief period of independence between the two World Wars, Latvia was annexed by the USSR in 1940. It reestablished its independence in 1991 following the breakup of the Soviet Union. Although the last Russian troops left in 1994, the status of the Russian minority (some 30% of the population) remains of concern to Moscow. Latvia continues to revamp its economy for eventual integration into various Western European political and economic institutions.
Geographical Note
most of the country is composed of fertile, low-lying plains, with some hills in the east
Economy
Latvia's transitional economy recovered from the 1998 Russian financial crisis, largely due to the SKELE government's budget stringency and a gradual reorientation of exports toward EU countries, lessening Latvia's trade dependency on Russia. The majority of companies, banks, and real estate have been privatized. Latvia officially joined the World Trade Organization in February 1999 - the first Baltic state to join - and was invited at the Helsinki EU Summit in December 1999 to begin accession talks in early 2000. Preparing for EU membership over the next few years remains a top foreign policy goal. The high current account deficit remains a major concern.
Religions
Lutheran, Roman Catholic, Russian Orthodox
Ports : Liepaja, Riga, Ventspils
International Disputes - Risks to travellers
: the Russian Duma refuses to ratify boundary delimitation treaty with Latvia; the Latvian Parliament has not ratified its 1998 maritime boundary treaty with Lithuania, primarily due to concerns over oil exploration rights
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Latvia
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