The International Monetary Fund (IMF) recommended that the Estonian government stabilise public debt by limiting budget spending and increasing revenue, ERR reports. IMF experts warned that if current policies continued, public debt would become unsustainable. GDP growth alone will not solve the country’s long-term challenges, they pointed out. Achieving more sustainable growth would require increasing…
Latvia’s State Treasury has raised EUR 1bn with a new bond issue on international financial markets, LSM reports. The government bonds have a maturity of seven years, carry a yield of 3.525%, and have a fixed coupon rate of 3.500%. The bonds were purchased by more than 70 investors, mostly European asset managers. Total investor…
Four political groups in Latvia have agreed on the programme of a new coalition government and the distribution of ministerial portfolios, LSM reports. The United List’s MP, Andris Kulbergs, will serve as prime minister, and the party alliance will also hold the posts of ministers of finance, justice, and regional development. Outgoing Prime Minister Evika…
The Estonian government has approved a new climate law, sending the draft bill to the country’s parliament, the Riigikogu, for consideration, ERR reports. The legislation establishes general greenhouse gas emission reduction targets for 2030, 2035, and 2040. The parliament has already set a goal for climate neutrality by 2050. Sector-specific emission reduction targets are included…
Estonia’s ruling coalition plans to pass a new climate law before the parliamentary elections due in March 2027, the Minister of Energy and the Environment, Andres Sutt, announced, ERR reports. Prime Minister Kristen Michal expects the parliament, the Riigikogu, to begin discussing the draft law before summer 2026 and approve the legislation in autumn 2026….
Last year was Lithuania’s warmest ever recorded, according to data from the Lithuanian Hydrometeorological Service (LHMT), BNS reports. The average annual air temperature in Lithuania was 9.5 degrees Celsius in 2024, which was 2.1 degrees higher than the average temperature in 1991-2020. All months except January were warmer in 2024 than the long-term average. The…
Estonian President Alar Karis has rejected an amendment to the law on the use of natural resources, ERR reports. The legislative changes would suspend oil shale mining permits until 2026, allowing time to assess the industry’s compliance with EU climate goals. The president argued that the amendment ran counter to the Constitution and imposed disproportionate…
Lithuania has established official diplomatic relations with the Kingdom of Tonga, BNS reports. The official ceremony took place in conjunction with the United Nations General Assembly meeting in New York. Until now, Tonga was one of the six remaining UN member states with which Lithuania had no diplomatic relations. Lithuanian Foreign Minister Gabrielius Landsbergis thanked…
Several ministries in Estonia have criticised the Ministry of Climate’s proposed new climate law, ERR reports. The ministries argued that the bill’s structure and purpose were unclear, and that the bill failed to define the rights and obligations under the proposed law. Interior Minister Lauri Läänemets and Justice Minister Liisa Pakosta said that the bill…