BALTIC FINANCIAL INSTITUTIONS IN TROUBLE.

The Bank of Estonia announced losses for 1994, a Latvian insurance company said it was shifting assets to protect its clients, and the Latvian government modified its budget to reduce the deficit, BNS reported May 31. Moscow could exploit this situation, as it did last month when Russians simultaneously pulled their deposits from Latvia’s Baltija bank. These sudden withdrawals triggered that bank’s failure and undermined confidence in the Latvian government.

Belarus Looks For Way Out Of Political Impasse.