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.
Politics of Latvia (associate partner), WHO, WIPO, WMO, WTO, WTrO (applicant) Politics of Latvia The politics of Latvia takes place in a framework of a parliamentary representative democratic republic, whereby the Prime Minister is the head of government, and of a multi-party system. The President holds a primarily ceremonial role as Head of State. Executive power is exercised by the government. Legislative power is vested in both the government and parliament, the Saeima. The Judiciary is independent of the executive and the legislature. The Economist Intelligence Unit has rated Latvia as "flawed democracy" in 2016. On March 19, 1991 the Supreme Council passed