Memo: Signature of the fifth Supplemental Memorandum of Understanding (SMoU) related to the EU financial assistance to Latvia

On 21 December 2011, a new Supplemental Memorandum of Understanding (the fifth SMoU) related to the EU financial assistance to Latvia was signed by Vice President of the European Commission Olli Rehn and the Latvian authorities. This follows a positive assessment by the Commission of the implementation of the economic adjustment programme.

It is the last Memorandum under the Balance-of-Payments assistance programme with Latvia and it reflects the successful finalisation of the international assistance programme that is set to expire on 20 January 2012.