Bank of Latvia Bank of Latvia The Bank of Latvia () is the central bank of Latvia. It is one of the key public institutions and carries out economic functions as prescribed by law. It was established in 1922. The principal objective of the Bank of Latvia is to regulate currency in circulation by implementing monetary policy to maintain price stability in Latvia. Until 31 December 2013, the bank was responsible for issuing the former Latvian currency, the Lats. The Bank of Latvia administration is located in Riga. The fiscal year for the bank begins on 1 January and ends on 31 December.
Government of Latvia Government of Latvia The Government of Latvia is the central government of the Republic of Latvia. The Constitution of Latvia (Satversme) outlines the nation as a parliamentary republic represented by a unicameral parliament (Saeima) and the Cabinet of Ministers of the Republic of Latvia (Latvian: "Latvijas Republikas Ministru kabinets"), which form the executive branch of the Government of Latvia. The Latvian Government primarily consists of ethnic Latvians, representatives of minorities, such as ethnic Russians, Ukrainians or Byelorussians, do not participate in the decision-making at the executive level. Since the early 2000s cabinet meetings in Latvia have been open to the