Latvia has exports, including to France and Germany, that means that there are goods that are on par or better. Devaluation does not solve anything long-term. What solves things is investment in high-added-value manufacturing and knowledge-based services. Or as you call those investments "buying dept". There is no point for France and Germany to "buy [our] debts" if there is no expectation on our ability to repay those debts, likely from the new production.