Latvia: Pres. Rinkevics urges banks to be more active in lending

Latvia’s President, Edgars Rinkevics, met with the governor of the Bank of Latvia, Martins Kazaks, to discuss issues related to the banking and financial sector, Baltic News Network reports. The officials noted that high lending costs weakened banks’ interest in providing lending services. Rinkevics called for a “radical change of direction” from Latvian commercial banks, the central bank, and the government to improve the availability of financial services.