One of the tasks of Latvijas Banka is to advise the Saeima and the Cabinet of Ministers of the Republic of Latvia on issues related to monetary policy and economic policy associated with Latvia's participation in the euro area, as well as other issues related to the performance of the tasks of Latvijas Banka.

In 2021, officials of Latvijas Banka and its employees held regular meetings with the representatives of the Saeima and the government of the Republic of Latvia, inter alia, participated in meetings of the committees of the Saeima and the Cabinet of Ministers of the Republic of Latvia and in the work of several committees and working groups established by the government, providing opinion on the financial and economic development. In 2021, when assessing Latvia's economic growth prospects, Latvijas Banka focused on analysing the impact of the Covid-19 pandemic on the economy and drafting proposals on improving the government support instruments to mitigate the consequences of the crisis, as well as on the issues related to taxes, social security and education policy. Latvijas Banka also continued to analyse the role of Latvia's financial sector in the economy by continuing an in-depth discussion with financial sector participants on lending trends, their underlying factors and the future development in Latvia. Among other topical issues, Latvijas Banka continued to analyse the potential impact of Brexit on Latvia's economy.

Employees of Latvijas Banka contributed to the promotion of Latvia's economic development by participating in different working groups and professional organisations, sharing experience and providing advice and support, including in the fields of economic forecasts, the government expenditure and the programming and uptake of EU funds, the financial sector and financial services (including payment services) development and the prevention of money laundering and financing of terrorism, as well as in other areas and in the process of drafting legal acts and their amendments regulating them.

Experts of Latvijas Banka continued to participate in the Working Group for the Preparation of the Notification of the General Government Budget Deficit and Debt chaired by the CSB by compiling the notification data of the general government budget deficit and debt for 2020 and dealing with the methodological issues related to accounting of the general government budget deficit and debt. In 2021, experts of Latvijas Banka together with the colleagues from the CSB, the Treasury and the Ministry of Finance also participated in the process of addressing methodological issues organised by Eurostat and the surveys on recording Covid-19 vaccine purchase agreements in the government accounts, loans by Member States to the IMF and the time of making book entries of the transfers to the International Development Association and other development banks.

Experts of Latvijas Banka provided support to the government, enabling Latvia to take an active part in the EU and the OECD, as well as ensured the provision of information to the international rating agencies and information exchange.