Latvia Premier, Government Resigns Amid Econ Crisis

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Latvia Prime Minister Ivars Godmanis and his center-right governing coalition abruptly resigned Friday, accelerating political turmoil in the country after recent violent demonstrations against the government as it deals with a severe economic downturn.

Latvia is in the midst of a harsh economic recession that forced policy makers to seek an International Monetary Fund-led EUR7.5 billion emergency loan late last year. IMF officials are in Riga this week and next, reviewing the rescue program.

"The prime minister submitted a letter of resignation and I accepted it," Latvia President Valdis Zatlers told reporters Friday afternoon.