You Have Developed a Flawed Document! 0 10

The dispute between the Ministry of Finance and the Ministry of Economics has been ongoing for two months. The reason for this is an informational message from the Ministry of Finance proposing to take away from the Consumer Rights Protection Center (which is part of the Ministry of Economics) the functions of controlling non-bank financial companies and transfer these functions to the Bank of Latvia.

The Ministry of Economics considers the prepared informational message superficial and sees no point in such a reform. According to rumors, the debate on this issue, including within the ruling coalition, is taking place in heightened tones.

A sharp debate also occurred live on the Latvian TV discussion program "Kas notiek Latvijā?" The acting director of the Consumer Rights Protection Center, Andis Priedītis, called the informational message from the Ministry of Finance a "flaw" and urged for the document to be rewritten based on real data.

The Vice President of the Bank of Latvia, Sanita Purgaile, pointed out that young people are taking loans from non-bank financial companies, getting into debt, and then ruining their credit history for life. In response, the Minister of Economics, Viktors Valainis, noted that if there is a problem with credit debts among youth, then legislative amendments should be proposed on this matter. "But what does this have to do with the regulation of the non-bank lending sector?!"

It is expected that disputes on this issue will continue at the upcoming coalition meeting.