Exit polls have predicted that Latvia's Prime Minister Valdis Dombrovskis has won today's election and can form a majority government.
The re-election of Mr Dombrovskis is likely to keep the country following IMF-led austerity measures aimed at eventual euro entry.
If the election result confirms the predictions of two exit polls, it would be a triumph for Mr Dombrovskis, who has already taken Latvia through harsh budget cuts and tax rises to fulfil the terms of a €7.5bn bailout.
Despite the budget cuts, Latvians have regarded Mr Dombrovskis as an honest crisis manager cleaning up the mess left behind by other governments.
'Voters have quite clearly voted for stability,' Mr Dombrovskis told reporters after the exit poll results.
One exit poll of 6,598 voters by news agency LETA and Dienas Mediji predicted 61.7% of votes going to the ruling coalition, with Mr Dombrovskis' Unity bloc winning most votes at 33.48%.
Another poll by public Latvian Television, news agency BNS and Riga Stradina University of 3,377 voters predicted Mr Dombrovskis' Unity bloc would come top with 33.58% of the vote, with a combined coalition vote of 55.1%.
The main challenge to Mr Dombrovskis had come from the Harmony Centre party, which has strong support among the large Russian minority.
It had hoped that anger over the crisis would win it the largest share of the vote, including from some disillusioned ethnic Latvians.
Both polls showed Harmony Centre earning second place with 21.8% and 29.8% respectively, a gain since the last election in 2006.
Harmony Centre had been aiming for a place in government for the first time since the 1991 fall of the Soviet Union.
The Harmony Centre party has said it would seek revisions to the loan deal with and the EU.
It also raised the prospect of seeking funds and investment from countries such as China and Russia.
Economic output in Latvia, a country of 2.2m people, plunged 18% in 2009, which was the biggest drop in the EU.
The economy has started to show signs of recovery, but tough budgets will be needed this year and next.
