Republic of Estonia: 2013 Article IV Consultation

International Monetary Fund

No 2013/114, IMF Staff Country Reports from International Monetary Fund

Abstract: Estonia has succeeded in reducing its macroeconomic imbalances and vulnerabilities, but faces the challenge of preserving its hard-earned fiscal and financial stability and enhancing long-term growth prospects. In this regard, adopting a fully fledged medium-term fiscal framework can help assess policy trade-offs and avoid procyclical policies. Financial sector stability can be safeguarded by strengthening macroprudential policies. Deeper Nordic-Baltic cross-border prudential arrangements and the EU banking union can enhance financial stability. Estonia needs to safeguard its external competitiveness, address skill mismatches, and accelerate human capital accumulation.

Keywords: ISCR; CR; energy market liberalization; core inflation; economy; ROSC; Ministry of Finance homepage; faster-than-expected euro area recovery; monetary policy interest rates; exchange arrangement; Inflation; Financial derivatives; Global; Baltics (search for similar items in EconPapers)
Pages: 70
Date: 2013-05-13
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