On Wednesday 30 May, Prime Minister Māris Kučinskis met with Angel Gurría, Secretary-General of the Organization for Economic Co-operation and Development (OECD) in Paris.
During the meeting, M.Kučinskis welcomed Latvia's experience in the OECD and benefits over the last two years since Latvia joined the organization. Most of the OECD recommendations are fully in line with the government's priorities - increasing productivity, reforms in the education system and health care, reducing social inequalities.
M. Kučinskis emphasized that one of the priorities on the agenda of the Latvian government is the issue of greater responsibility. in the financial sector regarding the prevention of money laundering and financing of terrorism, as well as the restoration of the reputation of the financial sector.
“As the result of decisive steps, the share of high-risk deposits in Latvia has decreased significantly. We also expect changes in the banks’ business strategies, which will enable them to refocus their operations away from high-risk transactions. These changes are monitored by the supervisory authority; therefore, the stability of the financial system is not threatened," said the Prime Minister.
He welcomed A. Gurria's readiness to provide support to Latvia to improve monitoring and control in the fight against money laundering and terrorist financing.
Latvia joined the OECD in 2016. In 2017, the OECD recognized Latvia as the OECD member state, which has been most effective in implementing the structural reforms.
M. Kučinskis is paying a visit to Paris to attend the meeting of the OECD Ministerial Council meeting, which is presided over by France, while Latvia and New Zealand are entrusted with the duties of vice-presiding countries.
Andrejs Vaivars
Press Secretary to the Prime Minister
Phone: 29228678
E-mail: Andrejs.Vaivars@mk.gov.lv