Republic of Estonia: Staff Report for the 2010 Article IV Consultation

International Monetary Fund

No 2011/034, IMF Staff Country Reports from International Monetary Fund

Abstract: Despite enduring one of the sharpest contractions in the EU, Estonia has been successful in its all-out efforts to join the euro area. Core prices have also begun increasing but at a moderate rate. Recent wage increases have defied not only high unemployment but also increases in vacancies and long-term unemployment. Executive Directors welcomed the authorities’ medium-term goal of returning to budget surpluses to restore fiscal reserves and keep public debt at low levels. Directors observed that the financial sector had weathered the crisis relatively well.

Keywords: ISCR; CR; Estonia; economy; Eurozone membership; core inflation; inflation risk; inflation expectation; competitiveness gain; Financial derivatives; Income; Loans; Global; Baltics (search for similar items in EconPapers)
Pages: 59
Date: 2011-02-02
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