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History of Latvia: a Brief Survey

History of Latvia: a Brief Survey

History of Latvia: a Brief Survey

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The renewal <strong>of</strong> independence brought swift changes in <strong>Latvia</strong>’s economic sphere. At theend <strong>of</strong> 1991, the country abandoned the planned economy <strong>of</strong> the Soviet era and switchedto a free market economy. In 1993 the <strong>Latvia</strong>n national currency, the lat, was brought backinto circulation. <strong>Latvia</strong> became an important transit country for the export <strong>of</strong> Russia’s rawmaterials. Land and other real estate were returned to their rightful pre-occupation ownersor their heirs.Following the renewal <strong>of</strong> independence, <strong>Latvia</strong> rapidly returned to the international milieu.On 17 September 1991, <strong>Latvia</strong> was admitted to the United Nations, and a few days earlier<strong>Latvia</strong> had already become a member <strong>of</strong> the Organisation for Security and Co-operation inEurope (OSCE). In February 1995, <strong>Latvia</strong> became a member <strong>of</strong> the European Council.The renewed <strong>Latvia</strong>n parliament convened for its first session in 1993 and elected as PresidentGuntis Ulmanis (born 1939), the grand nephew <strong>of</strong> <strong>Latvia</strong>’s pre-war President, Kārlis Ulmanis.A system <strong>of</strong> political parties began to take shape. The <strong>Latvia</strong>n Social Democratic Workers’Party and the Farmers’ Union resumed activities. Today, the whole spectrum <strong>of</strong> Europe’straditional political parties is active in <strong>Latvia</strong> (leftists, centrists, rightists, ‘greens’, etc.).‘Days <strong>of</strong> the Barricades’ in <strong>Latvia</strong>, 1991.45

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