Similarly to 2020, the principal factors influencing the area of communica- tion in 2021 were related to the Covid-19 pandemic and its effect on the economy and the well-being of every economic operator. In the second half of the year, the issue of inflation grew increasingly topical for society, businesses and decision-makers, as energy prices and the prices of other goods and services rose significantly.

The experts of Latvijas Banka focused both on the topics mention- ed above and on several other ones, including delays in investment, lending development that was not swift enough, the fight against the shadow economy, the increase in inequality and the formation of so- called two-speed labour market, as well as the emergence of sustainable development and the Green Deal on the global agenda.

The Governor of Latvijas Banka and member of the Governing Council of the ECB Mārtiņš Kazāks actively communicated with the international financial media on the issues on the agenda of euro area monetary policy makers. Overall, during 2021 the Governor of Latvijas Banka gave more than 20 interviews to representatives of international financial press and participated in seminars together with experts of investment banks and other global financial market institutions. He also gave speeches in various high-level conferences (Eurofi Forum, European Court of Auditors, etc.).

In 2021, Latvijas Banka's officials, economists and other experts provided answers to questions of approximately 600 journalists and other interested persons concerning the issues falling within the remit of Latvijas Banka and macroeconomic and financial analysis; approximately 200 interviews were published and broadcasted. In 2021, more than 6000 articles and stories on monetary policy and economic development issues were overall published in Latvia's mass media, and the public's interest in economic subjects was very high. Experts' assessments of and comments on various economic developments make up almost two thirds of Latvijas Banka's publicity.

The most visited sections on the website included the ones on statistics, coins and services, as well as news on the latest developments at Latvijas Banka. Meanwhile, the most interest on the website was attracted by Latvijas Banka's conferences and materials of Expert Roundtable Discussions, as well as articles and commentaries by Latvijas Banka's economists on inflation, government debt and the response of the economy to the challenges caused by the Covid-19 pandemic.


Despite the pandemic, Latvijas Banka respected its tradition of combining the macroeconomic forecast announcement with a discussion involving economic analysts and journalists specialising in the given subject, thus contributing to the quality of discussions in Latvia. It has been intended to continue this tradition in 2022 as well, and it is particularly important, considering the challenges monetary policy enforcers will face in relation to the inflation trends and the review of monetary policy instruments, as the Covid-19 pandemic eases.

Dialogue with the public, measures

Latvijas Banka encouraged a public discussion on the issues relevant to Latvia's society by organising digital Expert Roundtable Discussions on labour market problems and on the possibilities to limit the shadow economy and envelope wages. The annual high-level international economic conference on sustainable economy – interaction of monetary and fiscal policies of the euro area –, as well as future sustainability challenges was organised by Latvijas Banka online, making it the event of the year for the economic and financial experts.

Improvement of formats and sites, user-friendliness

2021 was the first full "working year" for the virtual assistant Mona that operates on Latvijas Banka's website During the year she sent the users 6766 messages within 4229 conversations. In December, Mona started servicing customers in English as well.

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In March 2021, Latvijas Banka started providing information and educational activities to the public on the photo and video sharing social media application Instagram.

The first entry of Latvijas Banka's podcast Skanošais ("Money" in slang) focusing on a study exploring envelope wages saw the light of day at the end of the year.

Promoting financial and economic literacy and taking over the coordination function of the Strategy for Financial Literacy

As of 1 January 2022, the coordination function of the National Strategy for Financial Literacy in Latvia has been successfully taken over from the FCMC. By continuing to take part in both the implementation of Latvia's Financial Sector Development Plan and elaboration of the National Strategy for Financial Literacy in Latvia, a significant contribution has been made to the public education on economic and financial matters.

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Support for teachers and pupils

The refinement of the digital teaching aid "My Economics" for pupils of all ages and classes has been continued, and highly-estimated and soughtafter teacher seminars have been organised.

Support for students of economics

The regular and comprehensive guest lectures by Latvijas Banka's experts offered to students are also popular remotely.

Expertise and technical assistance on financial literacy matters have been provided both nationally and internationally.

The offer of remote visits and possibilities of virtual visits to the Knowledge Centre "Money World" has been enhanced.