Annual report of Latvijas Banka

Another year has come and gone, bringing with it a series of changes and challenges. It is now the third year in a row that our lives have been marked by upheaval rather than stability. Throughout 2020 and 2021, the world battled a pandemic, and 24 February 2022 brought more tragic news – Russia launched an attack on Ukraine, sparking a bloody and senseless war. It has taken a heavy toll on the global economy, but no economic damage can compare to the lives lost and the suffering caused to people.