OREANDA-NEWS. On April 23, 2008 Finance Minister Atis Slakteris (People's Party) held a meeting with the representatives of the International Monetary Fund (IMF), who have arrived in Riga on a consultation mission, as it was informed by Finance Ministry Communications Department Director Diana Berzina.

Representatives from the IMF are preparing their annual report about the development of Latvia's economy and about the country's monetary and fiscal policy.

In his address to the delegation, Slakteris expressed appreciation about the new evaluation of Latvia's tax system.

"We are pleased with the positive evaluation of Latvia's fiscal policy. Working together with the IMF specialists gives us an opportunity to look at tax legislation in Latvia from a different perspective and encourages continued work on its improvement."

Finance Minister Slakteris emphasized that he finds the new IMF prognosis about the growth of Latvia's Gross Domestic Product in 2007 and 2008 too pessimistic. "I truly hope that an active exchange of viewpoints will take place in the framework of this mission," the minister admitted.

It is important for Latvia's specialists to analyze the factors that influence such an IMF position. It is also a challenge to prove to the IMF, what is already being done not to permit such a prognosis to come true.

Slakteris also pointed out to the government's strict position to retain the budget with a surplus, as well as to continue implementation of a strict fiscal policy.

During the visit, the IMF officials will meet with representatives from Finance Ministry, Bank of Latvia, Finance and Capital Markets Commission, commercial banks and other institutions.

In the framework of the consultations, the IMF holds bilateral negotiations with member states annually, obtaining economic and financial information. IMF also discuss with the member states the economic development processes of the preceding year and in the medium-term perspective. IMF mission in Riga takes place from April 21 through April 29.