To fix this problem, you may first check if the speaker is working or not, or try installing a new one on it. Clean also the terminal contact pads. If the speaker is okay, you may refer to the solution below and check the components where the speaker is being connected.
Nokia 2690 Ringer , Hands Free Speaker Problem Solution
Locate all the highlighted components on the solution above, this components is where the speaker is being connected. You may check all filter coils and ESD protection diode then replace if found damaged.
If all the components above seems all okay, trace each connection line paths then mend to reconnect it back if found opened or cut.
If the above procedure does not fix the problem, the possible faulty is the AVILMA IC., Try to reheat it first, then rework and replace if necessary. This option may only help fix the Nokia 2690 Ringer or hands free loud speaker problem.