(Updates with statement from IMF's Strauss-Kahn)
PARIS -(Dow Jones)- The French Finance Ministry Friday unveiled a package of financial aid from the European Union and other sources totaling EUR7.5 billion ($10.5 billion) to help struggling member state Latvia.
The aid, which will take the form of loans, will be accompanied by a series of economic measures aimed at stabilizing Latvia's ailing economy, the ministry said in a statement late Friday.
France currently holds the rotating presidency of the European Union.
Of the EUR7.5 billion, EUR3.1 billion will come from the European Union, EUR1.7 billion from the International Monetary Fund, EUR1.8 billion from Sweden, Denmark, Finland and Norway, EUR400 million from the World Bank, and EUR500 million from, the Czech Republic, Poland, Estonia, and the European Bank for Reconstruction and Development.
"Under the program the Latvian authorities are implementing a strong package of policy measures aimed at stabilizing the economy," IMF Managing Director Dominique Strauss-Kahn said in a statement.
The loans will be spread over the period up to the first quarter of 2011.
-By Jethro Mullen, Dow Jones Newswires; 33 1 4017 1738; jethro.mullen@dowjones.com
(Brian Blackstone in Washington, D.C., contributed to this story).
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Publié le 19 Décembre 2008 Copyright © 2008 Dowjones