Proclamation Day of the Republic of Latvia Proclamation Day of the Republic of Latvia Proclamation Day of the Republic of Latvia is celebrated annually on 18 November. It marks the anniversary of the Proclamation of Independence of Latvia by the People's Council of Latvia in 1918. Various public events take place all over the country, including concerts and fireworks. Torchlight processions held by various organizations have been part of Proclamation Day celebrations and Lāčplēsis Day celebrations since the 1920s. The largest torchlight procession organized by the National Alliance takes place in the capital city Riga and attracts several thousand participants every year. Its route through the streets
Bank of Latvia the national central bank from the government policy was ensured through legislation. The Law "On the Bank of Latvia" did not envisage its commercial activities, therefore, a decision was taken on the restructuring and privatization of 49 Bank of Latvia branches. Like most central banks of the world, the main goal of the Bank of Latvia is to provide inflation at a certain level. After joining the European Union (EU), until its membership in the Economic and Monetary Union (EMU), the Bank of Latvia was able to pursue its monetary policy, provided that it is in line with the common