Riga - Parex Banka, the Latvian bank recently nationalized by the government of the Baltic state, stepped up its attempts to balance its books Monday by issuing an appeal to bondholders to negotiate new terms for their investments.

After running into liquidity problems, Parex is already trying to renegotiate terms on two large syndicated loans worth 984 million dollars that fall due next year.

Riga - The Latvian parliament completed an extraordinary 20- hour sitting Friday morning as part of its bid to win approval from the International Monetary Fund (IMF) for an economic assistance package thought to be worth up to 6 billion dollars.

The parliament commenced its sitting at 9 am on Thursday and finally broke up at 5 am Friday morning.

According to the legislation passed by parliament, Latvia will save around 1 billion lats (1.85 billion dollars) by cutting spending and increasing revenues in 2009, a sum equivalent to 7 per cent of the small Baltic state's gross domestic product.

Riga - Latvian members of parliament embarked on a lengthy debate Thursday over government proposals to slash the national budget in order to win approval from the International Monetary Fund (IMF) for an economic assistance package thought to be worth up to 6 billion dollars.

Riga - Sweden is ready to send a substantial sum of money across the Baltic Sea to prop up the ailing Latvian economy, according to media reports in Latvia Monday.

Latvian current affairs TV program "Nothing Personal" claimed Sunday night that the first economic aid payments could arrive by the end of this week, and the Latvian press contained similar reports on Monday.

The TV show said Latvia will receive around three billion euros from the International Monetary Fund (IMF), with which the Latvian government is attempting to negotiate an economic assistance package.

Vilnius  - Defence ministers from the three small Baltic republics of Estonia, Latvia and Lithuania met in Birstonas, Lithuania, Thursday to discuss plans to pool their armed forced and create a joint infantry battalion.

Jaak Aaviksoo of Estonia, Vinets Veldre of Latvia and Juozas Olekas of Lithuania met keeping with their schedule of twice-yearly joint meetings.

Riga - The Latvian government and the International Monetary Fund (IMF) discussed devaluation of the national currency, the lat, during negotiations on an economic assistance package, finance minister Atis Slakteris told an extraordinary session of the Latvian parliament Thursday.

But while the option had been considered during the still ongoing negotiations, devaluation had been dismissed as a viable method of tackling the economic crisis in the Baltic state, he said.