Latvia is a country in the Baltic region of Northern Europe, one of the three Baltic states. Latvia is a democratic and developed country and member of the European Union, NATO, the Council of Europe, the United Nations, CBSS, the IMF, NB8, NIB, OECD, OSCE, and WTO. For 2014, Latvia was listed 46th on the Human Development Index and as a high income country on 1 July 2014. It used the Latvian lats as its currency until it was replaced by the euro on 1 January 2014.