International credit rating agency Fitch Ratings has affirmed Estonia’s long-term foreign-currency issuer default rating at A+ with a stable outlook, ERR reports. The rating reflects Estonia’s strong governance standards and institutions, low public debt, and net external creditor position, Fitch stated. At the same time, Estonia’s lower income per capita and small economy expose the…
The state-run development agencies of the three Baltic States have signed an agreement to increase bilateral and trilateral cooperation, ERR reports. The agreement will allow the Estonian Centre for International Development (ESTDEV), Latvia’s Central Finance and Contracting Agency (CFLA), and Lithuania’s Central Project Management Agency (CPVA) to share information and expertise more effectively. The three…
The EU has suspended its dispute proceedings at the World Trade Organization (WTO) over China’s trade embargo against Lithuania, Politico reported. A spokesman for the European Commission said that the move was a “procedural step” related to the preparation of written submissions. The case will be closed altogether if the suspension lasts longer than 12…
Latvia’s annual GDP declined by 0.6% in 2023, according to the Central Statistical Bureau’s (CSP) provisional data. In the fourth quarter of 2023, the GDP dropped by 0.5% over a year, according to seasonally and calendar unadjusted data. Growth in manufacturing stood at 3.6%, while services went down by 0.7%. According to seasonally and calendar-adjusted…
The deputy speaker of the Estonian parliament, the Riigikogu, former prime minister Jüri Ratas, announced that he has quit the Estonian Centre Party (Keskerakond) and joined the Fatherland (Isamaa) party, ERR reports. He said that the values of the Centre Party’s leadership no longer coincided with his own. Ratas was replaced as party chairman by…
Estonia and Latvia have joined several other countries in suspending funding to the United Nations Relief and Works Agency (UNRWA), ERR and LETA reported. The move comes after allegations that several members of UNRWA’s staff had taken part in the Hamas terrorist attack against Israel on 7 October 2023. The Estonian and Latvian foreign ministries…
Lithuania’s Vilnius city municipality plans to stop offering Russian as a second foreign language to sixth-grade school students as of the academic year 2024/2025, LRT reports. Deputy mayor Arunas Sileris said that the municipality wanted to increase the availability of official EU languages at schools. Going forward, sixth-graders will be able to choose French, German,…
Latvian MEP Tatjana Zdanoka (Tatyana Zhdanok) has been working for Russia’s Federal Security Service (FSB) for two decades, according to a joint investigation by Re:Baltica, DELFI, The Insider, and Expressen. Leaked documents reveal that Zdanoka reported to two different FSB handlers from at least 2004 to 2017. She submitted detailed reports on her work at…
Estonia’s and Finland’s electrcity transmission system operators, Elering and Fingrid, have located a fault in the EstLink 2 undersea power cable between the two countries, ERR reports. The location is in the vicinity of the cable landing point on the Estonian coast. The operators concluded that the fault was not caused by external damage. The…