Keep Us Strong WikiLeaks logo

Currently released so far... 143912 / 251,287

Articles

Browse latest releases

Browse by creation date

Browse by origin

A B C D F G H I J K L M N O P Q R S T U V W Y Z

Browse by tag

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
AORC AS AF AM AJ ASEC AU AMGT APER ACOA ASEAN AG AFFAIRS AR AFIN ABUD AO AEMR ADANA AMED AADP AINF ARF ADB ACS AE AID AL AC AGR ABLD AMCHAMS AECL AINT AND ASIG AUC APECO AFGHANISTAN AY ARABL ACAO ANET AFSN AZ AFLU ALOW ASSK AFSI ACABQ AMB APEC AIDS AA ATRN AMTC AVIATION AESC ASSEMBLY ADPM ASECKFRDCVISKIRFPHUMSMIGEG AGOA ASUP AFPREL ARNOLD ADCO AN ACOTA AODE AROC AMCHAM AT ACKM ASCH AORCUNGA AVIANFLU AVIAN AIT ASECPHUM ATRA AGENDA AIN AFINM APCS AGENGA ABDALLAH ALOWAR AFL AMBASSADOR ARSO AGMT ASPA AOREC AGAO ARR AOMS ASC ALIREZA AORD AORG ASECVE ABER ARABBL ADM AMER ALVAREZ AORCO ARM APERTH AINR AGRI ALZUGUREN ANGEL ACDA AEMED ARC AMGMT AEMRASECCASCKFLOMARRPRELPINRAMGTJMXL ASECAFINGMGRIZOREPTU ABMC AIAG ALJAZEERA ASR ASECARP ALAMI APRM ASECM AMPR AEGR AUSTRALIAGROUP ASE AMGTHA ARNOLDFREDERICK AIDAC AOPC ANTITERRORISM ASEG AMIA ASEX AEMRBC AFOR ABT AMERICA AGENCIES AGS ADRC ASJA AEAID ANARCHISTS AME AEC ALNEA AMGE AMEDCASCKFLO AK ANTONIO ASO AFINIZ ASEDC AOWC ACCOUNT ACTION AMG AFPK AOCR AMEDI AGIT ASOC ACOAAMGT AMLB AZE AORCYM AORL AGRICULTURE ACEC AGUILAR ASCC AFSA ASES ADIP ASED ASCE ASFC ASECTH AFGHAN ANTXON APRC AFAF AFARI ASECEFINKCRMKPAOPTERKHLSAEMRNS AX ALAB ASECAF ASA ASECAFIN ASIC AFZAL AMGTATK ALBE AMT AORCEUNPREFPRELSMIGBN AGUIRRE AAA ABLG ARCH AGRIC AIHRC ADEL AMEX ALI AQ ATFN AORCD ARAS AINFCY AFDB ACBAQ AFDIN AOPR AREP ALEXANDER ALANAZI ABDULRAHMEN ABDULHADI ATRD AEIR AOIC ABLDG AFR ASEK AER ALOUNI AMCT AVERY ASECCASC ARG APR AMAT AEMRS AFU ATPDEA ALL ASECE ANDREW
EAIR ECON ETRD EAGR EAID EFIN ETTC ENRG EMIN ECPS EG EPET EINV ELAB EU ECONOMICS EC EZ EUN EN ECIN EWWT EXTERNAL ENIV ES ESA ELN EFIS EIND EPA ELTN EXIM ET EINT EI ER EAIDAF ETRO ETRDECONWTOCS ECTRD EUR ECOWAS ECUN EBRD ECONOMIC ENGR ECONOMY EFND ELECTIONS EPECO EUMEM ETMIN EXBS EAIRECONRP ERTD EAP ERGR EUREM EFI EIB ENGY ELNTECON EAIDXMXAXBXFFR ECOSOC EEB EINF ETRN ENGRD ESTH ENRC EXPORT EK ENRGMO ECO EGAD EXIMOPIC ETRDPGOV EURM ETRA ENERG ECLAC EINO ENVIRONMENT EFIC ECIP ETRDAORC ENRD EMED EIAR ECPN ELAP ETCC EAC ENEG ESCAP EWWC ELTD ELA EIVN ELF ETR EFTA EMAIL EL EMS EID ELNT ECPSN ERIN ETT EETC ELAN ECHEVARRIA EPWR EVIN ENVR ENRGJM ELBR EUC EARG EAPC EICN EEC EREL EAIS ELBA EPETUN EWWY ETRDGK EV EDU EFN EVN EAIDETRD ENRGTRGYETRDBEXPBTIOSZ ETEX ESCI EAIDHO EENV ETRC ESOC EINDQTRD EINVA EFLU EGEN ECE EAGRBN EON EFINECONCS EIAD ECPC ENV ETDR EAGER ETRDKIPR EWT EDEV ECCP ECCT EARI EINVECON ED ETRDEC EMINETRD EADM ENRGPARMOTRASENVKGHGPGOVECONTSPLEAID ETAD ECOM ECONETRDEAGRJA EMINECINECONSENVTBIONS ESSO ETRG ELAM ECA EENG EITC ENG ERA EPSC ECONEINVETRDEFINELABETRDKTDBPGOVOPIC EIPR ELABPGOVBN EURFOR ETRAD EUE EISNLN ECONETRDBESPAR ELAINE EGOVSY EAUD EAGRECONEINVPGOVBN EINVETRD EPIN ECONENRG EDRC ESENV EB ENER ELTNSNAR EURN ECONPGOVBN ETTF ENVT EPIT ESOCI EFINOECD ERD EDUC EUM ETEL EUEAID ENRGY ETD EAGRE EAR EAIDMG EE EET ETER ERICKSON EIAID EX EAG EBEXP ESTN EAIDAORC EING EGOV EEOC EAGRRP EVENTS ENRGKNNPMNUCPARMPRELNPTIAEAJMXL ETRDEMIN EPETEIND EAIDRW ENVI ETRDEINVECINPGOVCS EPEC EDUARDO EGAR EPCS EPRT EAIDPHUMPRELUG EPTED ETRB EPETPGOV ECONQH EAIDS EFINECONEAIDUNGAGM EAIDAR EAGRBTIOBEXPETRDBN ESF EINR ELABPHUMSMIGKCRMBN EIDN ETRK ESTRADA EXEC EAIO EGHG ECN EDA ECOS EPREL EINVKSCA ENNP ELABV ETA EWWTPRELPGOVMASSMARRBN EUCOM EAIDASEC ENR END EP ERNG ESPS EITI EINTECPS EAVI ECONEFINETRDPGOVEAGRPTERKTFNKCRMEAID ELTRN EADI ELDIN ELND ECRM EINVEFIN EAOD EFINTS EINDIR ENRGKNNP ETRDEIQ ETC EAIRASECCASCID EINN ETRP EAIDNI EFQ ECOQKPKO EGPHUM EBUD EAIT ECONEINVEFINPGOVIZ EWWI ENERGY ELB EINDETRD EMI ECONEAIR ECONEFIN EHUM EFNI EOXC EISNAR ETRDEINVTINTCS EIN EFIM EMW ETIO ETRDGR EMN EXO EATO EWTR ELIN EAGREAIDPGOVPRELBN EINVETC ETTD EIQ ECONCS EPPD ESS EUEAGR ENRGIZ EISL EUNJ EIDE ENRGSD ELAD ESPINOSA ELEC EAIG ESLCO ENTG ETRDECD EINVECONSENVCSJA EEPET EUNCH ECINECONCS
KPKO KIPR KWBG KPAL KDEM KTFN KNNP KGIC KTIA KCRM KDRG KWMN KJUS KIDE KSUM KTIP KFRD KMCA KMDR KCIP KTDB KPAO KPWR KOMC KU KIRF KCOR KHLS KISL KSCA KGHG KS KSTH KSEP KE KPAI KWAC KFRDKIRFCVISCMGTKOCIASECPHUMSMIGEG KPRP KVPR KAWC KUNR KZ KPLS KN KSTC KMFO KID KNAR KCFE KRIM KFLO KCSA KG KFSC KSCI KFLU KMIG KRVC KV KVRP KMPI KNEI KAPO KOLY KGIT KSAF KIRC KNSD KBIO KHIV KHDP KBTR KHUM KSAC KACT KRAD KPRV KTEX KPIR KDMR KMPF KPFO KICA KWMM KICC KR KCOM KAID KINR KBCT KOCI KCRS KTER KSPR KDP KFIN KCMR KMOC KUWAIT KIPRZ KSEO KLIG KWIR KISM KLEG KTBD KCUM KMSG KMWN KREL KPREL KAWK KIMT KCSY KESS KWPA KNPT KTBT KCROM KPOW KFTN KPKP KICR KGHA KOMS KJUST KREC KOC KFPC KGLB KMRS KTFIN KCRCM KWNM KHGH KRFD KY KGCC KFEM KVIR KRCM KEMR KIIP KPOA KREF KJRE KRKO KOGL KSCS KGOV KCRIM KEM KCUL KRIF KCEM KITA KCRN KCIS KSEAO KWMEN KEANE KNNC KNAP KEDEM KNEP KHPD KPSC KIRP KUNC KALM KCCP KDEN KSEC KAYLA KIMMITT KO KNUC KSIA KLFU KLAB KTDD KIRCOEXC KECF KIPRETRDKCRM KNDP KIRCHOFF KJAN KFRDSOCIRO KWMNSMIG KEAI KKPO KPOL KRD KWMNPREL KATRINA KBWG KW KPPD KTIAEUN KDHS KRV KBTS KWCI KICT KPALAOIS KPMI KWN KTDM KWM KLHS KLBO KDEMK KT KIDS KWWW KLIP KPRM KSKN KTTB KTRD KNPP KOR KGKG KNN KTIAIC KSRE KDRL KVCORR KDEMGT KOMO KSTCC KMAC KSOC KMCC KCHG KSEPCVIS KGIV KPO KSEI KSTCPL KSI KRMS KFLOA KIND KPPAO KCM KRFR KICCPUR KFRDCVISCMGTCASCKOCIASECPHUMSMIGEG KNNB KFAM KWWMN KENV KGH KPOP KFCE KNAO KTIAPARM KWMNKDEM KDRM KNNNP KEVIN KEMPI KWIM KGCN KUM KMGT KKOR KSMT KISLSCUL KNRV KPRO KOMCSG KLPM KDTB KFGM KCRP KAUST KNNPPARM KUNH KWAWC KSPA KTSC KUS KSOCI KCMA KTFR KPAOPREL KNNPCH KWGB KSTT KNUP KPGOV KUK KMNP KPAS KHMN KPAD KSTS KCORR KI KLSO KWNN KNP KPTD KESO KMPP KEMS KPAONZ KPOV KTLA KPAOKMDRKE KNMP KWMNCI KWUN KRDP KWKN KPAOY KEIM KGICKS KIPT KREISLER KTAO KJU KLTN KWMNPHUMPRELKPAOZW KEN KQ KWPR KSCT KGHGHIV KEDU KRCIM KFIU KWIC KNNO KILS KTIALG KNNA KMCAJO KINP KRM KLFLO KPA KOMCCO KKIV KHSA KDM KRCS KWBGSY KISLAO KNPPIS KNNPMNUC KCRI KX KWWT KPAM KVRC KERG KK KSUMPHUM KACP KSLG KIF KIVP KHOURY KNPR KUNRAORC KCOG KCFC KWMJN KFTFN KTFM KPDD KMPIO KCERS KDUM KDEMAF KMEPI KHSL KEPREL KAWX KIRL KNNR KOMH KMPT KISLPINR KADM KPER KTPN KSCAECON KA KJUSTH KPIN KDEV KCSI KNRG KAKA KFRP KTSD KINL KJUSKUNR KQM KQRDQ KWBC KMRD KVBL KOM KMPL KEDM KFLD KPRD KRGY KNNF KPROG KIFR KPOKO KM KWMNCS KAWS KLAP KPAK KHIB KOEM KDDG KCGC
PGOV PREL PK PTER PINR PO PHUM PARM PREF PINF PRL PM PINS PROP PALESTINIAN PE PBTS PNAT PHSA PL PA PSEPC POSTS POLITICS POLICY POL PU PAHO PHUMPGOV PGOG PARALYMPIC PGOC PNR PREFA PMIL POLITICAL PROV PRUM PBIO PAK POV POLG PAR POLM PHUMPREL PKO PUNE PROG PEL PROPERTY PKAO PRE PSOE PHAS PNUM PGOVE PY PIRF PRES POWELL PP PREM PCON PGOVPTER PGOVPREL PODC PTBS PTEL PGOVTI PHSAPREL PD PG PRC PVOV PLO PRELL PEPFAR PREK PEREZ PINT POLI PPOL PARTIES PT PRELUN PH PENA PIN PGPV PKST PROTESTS PHSAK PRM PROLIFERATION PGOVBL PAS PUM PMIG PGIC PTERPGOV PSHA PHM PHARM PRELHA PELOSI PGOVKCMABN PQM PETER PJUS PKK POUS PTE PGOVPRELPHUMPREFSMIGELABEAIDKCRMKWMN PERM PRELGOV PAO PNIR PARMP PRELPGOVEAIDECONEINVBEXPSCULOIIPBTIO PHYTRP PHUML PFOV PDEM PUOS PN PRESIDENT PERURENA PRIVATIZATION PHUH PIF POG PERL PKPA PREI PTERKU PSEC PRELKSUMXABN PETROL PRIL POLUN PPD PRELUNSC PREZ PCUL PREO PGOVZI POLMIL PERSONS PREFL PASS PV PETERS PING PQL PETR PARMS PNUC PS PARLIAMENT PINSCE PROTECTION PLAB PGV PBS PGOVENRGCVISMASSEAIDOPRCEWWTBN PKNP PSOCI PSI PTERM PLUM PF PVIP PARP PHUMQHA PRELNP PHIM PRELBR PUBLIC PHUMKPAL PHAM PUAS PBOV PRELTBIOBA PGOVU PHUMPINS PICES PGOVENRG PRELKPKO PHU PHUMKCRS POGV PATTY PSOC PRELSP PREC PSO PAIGH PKPO PARK PRELPLS PRELPK PHUS PPREL PTERPREL PROL PDA PRELPGOV PRELAF PAGE PGOVGM PGOVECON PHUMIZNL PMAR PGOVAF PMDL PKBL PARN PARMIR PGOVEAIDUKNOSWGMHUCANLLHFRSPITNZ PDD PRELKPAO PKMN PRELEZ PHUMPRELPGOV PARTM PGOVEAGRKMCAKNARBN PPEL PGOVPRELPINRBN PGOVSOCI PWBG PGOVEAID PGOVPM PBST PKEAID PRAM PRELEVU PHUMA PGOR PPA PINSO PROVE PRELKPAOIZ PPAO PHUMPRELBN PGVO PHUMPTER PAGR PMIN PBTSEWWT PHUMR PDOV PINO PARAGRAPH PACE PINL PKPAL PTERE PGOVAU PGOF PBTSRU PRGOV PRHUM PCI PGO PRELEUN PAC PRESL PORG PKFK PEPR PRELP PMR PRTER PNG PGOVPHUMKPAO PRELECON PRELNL PINOCHET PAARM PKPAO PFOR PGOVLO PHUMBA POPDC PRELC PHUME PER PHJM POLINT PGOVPZ PGOVKCRM PAUL PHALANAGE PARTY PPEF PECON PEACE PROCESS PPGOV PLN PRELSW PHUMS PRF PEDRO PHUMKDEM PUNR PVPR PATRICK PGOVKMCAPHUMBN PRELA PGGV PSA PGOVSMIGKCRMKWMNPHUMCVISKFRDCA PGIV PRFE POGOV PBT PAMQ

Browse by classification

Community resources

courage is contagious

Viewing cable 09RIGA314, SPECTER OF DEVALUATION REAPPEARS - GOVERNMENT BRUSHES IT

If you are new to these pages, please read an introduction on the structure of a cable as well as how to discuss them with others. See also the FAQs

Understanding cables
Every cable message consists of three parts:
  • The top box shows each cables unique reference number, when and by whom it originally was sent, and what its initial classification was.
  • The middle box contains the header information that is associated with the cable. It includes information about the receiver(s) as well as a general subject.
  • The bottom box presents the body of the cable. The opening can contain a more specific subject, references to other cables (browse by origin to find them) or additional comment. This is followed by the main contents of the cable: a summary, a collection of specific topics and a comment section.
To understand the justification used for the classification of each cable, please use this WikiSource article as reference.

Discussing cables
If you find meaningful or important information in a cable, please link directly to its unique reference number. Linking to a specific paragraph in the body of a cable is also possible by copying the appropriate link (to be found at theparagraph symbol). Please mark messages for social networking services like Twitter with the hash tags #cablegate and a hash containing the reference ID e.g. #09RIGA314.
Reference ID Created Released Classification Origin
09RIGA314 2009-06-04 13:53 2011-08-26 00:00 UNCLASSIFIED Embassy Riga
VZCZCXRO0586
OO RUEHAG RUEHAST RUEHDA RUEHDBU RUEHDF RUEHFL RUEHIK RUEHKW RUEHLA
RUEHLN RUEHLZ RUEHNP RUEHPOD RUEHROV RUEHSK RUEHSR RUEHVK RUEHYG
DE RUEHRA #0314 1551353
ZNR UUUUU ZZH
O 041353Z JUN 09
FM AMEMBASSY RIGA
TO RUEHC/SECSTATE WASHDC IMMEDIATE 5878
INFO RUEHZL/EUROPEAN POLITICAL COLLECTIVE PRIORITY
UNCLAS RIGA 000314 
 
SIPDIS 
 
E.O. 12958: N/A 
TAGS: EFIN PGOV ECON LG
SUBJECT: SPECTER OF DEVALUATION REAPPEARS - GOVERNMENT BRUSHES IT 
ASIDE 
 
REF: LONDON 1321 
 
1. Summary: Comments by prominent local politicians have 
resuscitated speculation that Latvia will have to devalue its 
currency, and their concerns gained some traction when Latvia failed 
to sell any government debt securities on June 3.  The Prime 
Minister, Finance Minister, and Bank of Latvia insist that no 
devaluation is being considered.  Meanwhile, the Bank of Latvia 
spent 127.6 million Euros in the first three days of June defending 
the Lat, in addition to 134.5 million Euros in the last week of May, 
up from only 1.7 million the previous week.  The Bank of Latvia 
argues that the public conjecture about devaluation is forcing 
defensive moves, but still sees no signs of speculative attack. 
While the decision on devaluation officially rests solely with the 
Bank of Latvia, the decision depends as much on opinions in Brussels 
and Stockholm as in Riga.  End Summary. 
 
2. Bengt Dennis, former governor of Sweden's Central Bank and 
current member of a task force studying Latvian economic policy, was 
quoted in the press saying that devaluation in Latvia was not a 
question of whether, but of when.  In addition, Mareks Seglins, 
Justice Minister and chairman of the People's Party (the largest 
faction in the coalition government) declared that the idea of 
devaluation deserves a more thorough debate, although he has since 
backed away from those statements.  Former PM and People's Party 
founder Andris Skele and Venstpils mayor Aivars Lembergs (two of 
what are considered Latvia's three main oligarchs) have been even 
more direct in advocating devaluation in recent days.  The above, 
combined with the unsuccessful attempt to sell government bonds at 
auction on June 3, has led to growing speculation in international 
financial media that a devaluation is inevitable. 
 
3. The Prime Minister's foreign policy advisor flatly rejected the 
suggestion that further discussion of devaluation was warranted.  He 
claimed that Bengt was not accurately quoted and that he is not "an 
advisor" in the sense that many press reports have suggested - he is 
only one member of a larger task force studying the economy.  PM 
Dombrovskis has publicly rejected devaluation, claiming confidence 
that the latest proposed budget cuts will satisfy international 
lenders, even though the proposed deficit of 9.2% would almost 
double the agreed-upon target. 
 
4. In private conversations, Latvian Bank officials echoed their 
public statements that they see no need to devalue the Lat.  They 
claim that the current round of defensive maneuvers was necessary 
because of investors spooked by the baseless speculation of 
politicians, not because of any change in the fundamentals of the 
economy. 
 
5. Latvian bank analysts have been more sanguine than their foreign 
counterparts.  Peteris Strautins, socioeconomic advisor at SwedBank 
Latvia, noted that the current account is in surplus and the need 
for devaluation is actually declining each day.  He suggested that 
many of the statements by Latvian politicians were simply an effort 
to sow instability by parties that are in a weak position heading 
into June 6 local government and European Parliament elections.  He 
predicted things will calm down after Saturday's voting.  Andris 
Vilks, Chief Economist at SEB, noted that deposits in Latvian banks 
have actually increased in the last week as investors respond to 
higher interest rates for Lat-denominated accounts.  He estimated 
that most of the movement in deposits was due to resident activities 
rather than speculation by outsiders. 
 
6. Comment:  While many looking at Latvia's situation would assume 
that devaluation is a logical step (reftel), the country's small 
size, heavy dependence on imports and makeup of the export market 
make it unclear how much it would benefit Latvia.  Opinions remain 
mixed whether devaluation would be a better policy for Latvia's 
long-term economic health.  The current government is attempting to 
project confidence and certainty in the decision not to devalue - 
and they seem genuine in their belief in this course of action. 
There is no question that the Bank of Latvia remains committed to 
the current peg.  However, if the rumors continue to snowball after 
the election, they risk becoming a self-fulfilling prophecy.  While 
the decision rests with the Bank of Latvia officially, officials in 
Brussels and Stockholm have as much, if not more, to say on the 
matter, which comes down to their willingness to fund a defense of 
the peg if necessary. 
 
ROGERS