IMF Staff Country Reports

Republic Of Estonia: Republic Of Estonia Second Review Under the Stand-by Arrangement

Publication Date:

January 11, 2001

Electronic Access:

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Summary:

The fast economic recovery despite a strong fiscal correction is a result of the government’s determined macroeconomic and structural policies. Executive Directors commend the government for adhering to its ambitious fiscal targets. The careful crafting of legislation to establish a second pillar of the pension system is appropriate. The high confidence in the currency board and the strengthening of the banking system will stabilize the financial system. Nonbanking supervision has to be strengthened further and the draft securities market law should be implemented.

Series:

Country Report No. 2001/014

Subject:

Banking Commercial banks Expenditure External position Financial institutions Foreign assets Monetary base Money Personal income tax Taxes