Judicial branch: Supreme Court, judges' appointments are confirmed by the Parliament
Political parties and leaders: Democratic Party "Saimnieks" or DPS
[Ziedonis CEVERS, chairman]; Latvia's Way or LC [Andrei PANTELEJEVS];
Popular Movement For Latvia or TKL [Joachim SIEGERIST]; For Fatherland
and Freedom or TVB [Maris GRINBLATS], merged with LNNK; Latvian Unity
Party or LVP [Alberis KAULS]; Latvian National Conservative Party or
LNNK [Andrejs KRASTINS]; Green Party or LZP [Olegs BATAREVSK]; Latvian
Farmers Union or LZS [Andris ROZENTALS]; Christian Democrat Union or
LKDS [Talavs JUNDZIS]; National Harmony Party or TSP [Janis JURKANS];
Latvian Socialist Party or LSP [Sergejs DIAMANIS]; Latvian Liberal
Party or LLP [J. DANOSS]; Political Association of the Underprivileged
or MPA [B. PELSE, V. DIMANTS, J. KALNINS]; Latvian Democratic Labor
Party or LDDP [J. BOJARS]; Party of Russian Citizens or LKPP [V.
SOROCHIN, V. IVANOV]; Christian People's Party or KTP (formerly
Peoples Front of Latvia or LTF) [Uldis AUGSTKALNS]; Political Union of
Economists or TPA [Edvins KIDE]; Latvian National Democratic Party or
LNDP [A. MALINS]; "Our Land" or MZ [M. DAMBEKALNE]; Anticommunist
Union or PA [P. MUCENIEKS]; Latvian Social-Democratic Workers Party or
LSDSP [Janis DINEVICS]; Party for the Defense of Latvia's Defrauded
People; Latvian Independence Party or LNP [Valdis KONOVALOVS]
note: former Prime Minister Andris SKELE announced 18 December 1997
that he is forming a new, as yet unnamed, party
International organization participation: BIS, CBSS, CCC, CE, EAPC,
EBRD, ECE, EU (applicant), FAO, IBRD, ICAO, ICRM, IDA, IFC, IFRCS,
ILO, IMF, IMO, Intelsat (nonsignatory user), Interpol, IOC, IOM
(observer), ISO (correspondent), ITU, OSCE, PFP, UN, UNCTAD, UNESCO,
UNIDO, UPU, WEU (associate partner), WHO, WIPO, WMO, WTrO (applicant)
Diplomatic representation in the US: chief of mission: Ambassador Ojars Eriks KALNINS chancery: 4325 17th Street NW, Washington, DC 20011 telephone: [1] (202) 726-8213, 8214 FAX: [1] (202) 726-6785
Diplomatic representation from the US: chief of mission: Ambassador Larry C. NAPPER embassy: Raina Boulevard 7, LV-1510, Riga mailing address: American Embassy, Riga, PSC 78, Box R, APO AE 09723 telephone: [371] (2) 210-0005, 782-0046 FAX: [371] (2) 722-6530, 782-0047
Flag description: three horizontal bands of maroon (top), white (half-width), and maroon
@Latvia:Economy
Economy-overview: In 1997 Latvia scored the most impressive economic achievements since independence in 1991, with GDP growing by 6% and inflation at 7.4%. GDP is expected to grow 5% in 1998 and inflation to range between 6% and 7%. In 1997 Latvia continued its strict fiscal policy and apparently ended the year with a small fiscal surplus, reflecting higher-than-expected income from customs revenues, excise and business taxes, and restraints on government spending. Foreign direct investment (FDI) in 1997 was a record $880 million by yearend. Prospects for increasing FDI in 1998 are good if Latvia privatizes at least some of its large companies, including Venspils Nafta (the state oil company). Although Latvia was disappointed that it was not included among the five Central and East European states invited to start EU accession talks in spring 1998, it is likely to join the WTrO in 1998. Latvia's growing current account and trade deficits remain a cause for concern, reaching nearly 10% by yearend. Latvia's trade deficit may even reach 22% of GDP in 1998.
GDP: purchasing power parity-$10.4 billion (1997 est.)
GDP-real growth rate: 6% (1997 est.)