Latvian President Nominates Ex-Justice Chief to Form Cabinet

(Bloomberg) -- Latvian President Raimonds Vejonis nominated a former justice minister to draft a new government as the Baltic country still grapples with upheaval in its financial sector.

Janis Bordans of the New Conservative Party has until Nov. 21 to form a center-right coalition, likely consisting of five to six parties, similar to formations that have largely ruled Latvia since it regained independence from the Soviet Union in 1991.

The nation of 2 million people, a member of NATO, the European Union and the euro, was rocked this year when its third biggest lender was accused of money laundering and law enforcement officials charged the central bank governor with bribery. The turmoil in the financial sector and tensions with its neighbor, Russia, are set to be among the main priorities for the next government, Vejonis told lawmakers on Tuesday.

“Today we will start new talks” about forming a government, with priorities including the rule of law and help for people with low incomes, Bordans said after the nomination. Bordans gave himself an 80 percent chance of successfully forming a government, which he said would not include Prime Minister Maris Kucinskis's Union of Greens and Farmers.

To contact the reporter on this story: Aaron Eglitis in Riga at aeglitis@bloomberg.net

To contact the editors responsible for this story: Andrea Dudik at adudik@bloomberg.net, Michael Winfrey, Tony Halpin

©2018 Bloomberg L.P.