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Czech Republic: Bond Law to Aid Latvia

(Apr. 24, 2009) Vaclav Klaus, the President of the Czech Republic, signed into law on April 13, 2009, legislation on a bond issue program enabling the provision of financial aid to Latvia. The value of the issue is about CZK5.5 billion (about US$264 million). The money raised will take the form of a seven-year interest-free loan, half to be provided in 2009 and half in 2010, to help ease Latvia's financial crisis and stabilize its economy over the next two years. (President Klaus Signs Law on Czech State Bond Issue for Financial Aid to Latvia, CZECH HAPPENINGS, Apr. 13, 2009, World News Connection online subscription database, NewsEdge Doc. No.200904161477.1_84f20025d51ff04a.)