Einars Repše During this period, he oversaw the introduction of the Latvian rublis, Latvia's temporary transition currency, and the Lats, independent Latvia's new currency. Under Repše, the Bank of Latvia pursued a tight monetary policy, implementing a de facto currency board for the Lats. As a result, the exchange rate of the lat has been stable since the early 1990s till now. The success of the Lats made Repše very popular in Latvia. In 2001, Repše resigned from the Bank of Latvia to return to politics. He founded the New Era Party, a Populist anti-corruption party. After the 2002 elections, Repše became
Baltic Way (mathematical contest) Baltic Way (mathematical contest) Originally, the three Baltic states participated, but the list of invitees has since grown to include all countries around the Baltic Sea; Germany sends a team representing only its northernmost parts, and Russia a team from St. Petersburg. Iceland is invited on grounds of being the first state to recognize the newfound independence of the Baltic states. Extra "guest" teams are occasionally invited at the discretion of the organizers: Israel was invited in 2001, Belarus in 2004 and 2014, Belgium in 2005, South Africa in 2011 and the Netherlands in 2015. Responsibility for organizing the contest