Parex Banka is seeking to use reserves to make the final payment on a syndicated loan, Bloomberg reports. The Latvian lender has asked the country’s central bank and bank regulator for permission to use the reserves. The Riga-based bank has to repay the final installment of $335 million by May 5 of a loan that was rescheduled after the bank was taken over by the state in 2008. Latvia received a $10.9 billion bailout loan from the European Commission and the International Monetary Fund after Parex failed.
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