Kristjan Velbri

Swedbank's Q1 Results Reveal Further Problems in the Baltics

Freya,
Latvia hasn't received a penny so far. According to their agreement with the IMF, they have to bring their budget deficit down to 4.9% of GDP. With a 40% cut in all wages and expenses, the Latvian budget deficit stands at around 7%. Right now they are hoping to reconsider the agreement.
By the way, IMF gave Latvia two options - either devaluation or cuts in expenditure.

And yes, you are correct on the Austrian banks having huge exposure in Eastern Europe. I'm not so sure about Latvia and Lithuania, but Estonian banks are all owned and run by Swedish banks.

Swedbank's Q1 Results Reveal Further Problems in the Baltics

Actually, Latvia has already turned to the IMF for a loan, but they are unable to secure it because they have not been able to meet the budget deficit requirement (set by the IMF), which is at 5% of GDP. Even with a 40% cut in the budget, Latvia's budget shortfall will amount to 7.7% of GDP. If Latvia doesn't meet the IMF's request of 5%, they will not receive the loan.