Still afloat in the Baltic, just

Archived Articles | 09 Apr 2009 | EWR

The three Baltic economies face a spiralling economic downturn

Edward Lucas

TALLINN - Once the fastest-growing economies in Europe, the three Baltic countries are now the opposite. Latvia, which in December received a â‚¬7.5 billion ($10 billion) bail-out led by the International Monetary Fund, is basing its budget on a 13% decline in GDP. Estonia and Lithuania expect a decline of a tenth.

(Apr 8th 2009, from The Economist print edition, available in its entirety on the authorâ€™s blog,
http://www.edwardlucas.blogspo... )

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