Estonia, EU – Baltic States, Financial Services, Latvia

"Latvia has prepared a very serious program for getting over its financial crisis. It is also very positive that other Nordic and Baltic countries, together with the International Monetary Fund and the European Union (EU), have also expressed commitments to help Latvia. It is Estonia's duty to also participate in the financing of Latvia's program," said Estonian Prime Minister Andrus Ansip, who participated in a Latvia support meeting in Brussels today.

Estonia plans to help Latvia by issuing the country a loan. Estonia has enough reserves, and some of these reserves will be allocated to Latvia.

It is not yet clear how large of a loan Estonia will issue to Latvia, talks are continuing. However, compared to the financial support of the Nordic countries, Estonia's loan will be much smaller.

According to Estonia's former Finance Minister Aivar Soerd, Estonia's participation in helping Latvia is very important symbolically.

Two days ago, Estonian Finance Minister Ivari Padar told Bloomberg that Estonia might also be needing a loan in the near future.