Republic of Estonia: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Estonia

International Monetary Fund

No 2022/289, IMF Staff Country Reports from International Monetary Fund

Abstract: Estonia’s economy is vulnerable to the fallout from the war in Ukraine given its geographical proximity to Russia, the geopolitical context, and high passthrough from global energy prices to domestic inflation. Although direct exposures to Russia and Ukraine through trade, services, and financial channels appear to be contained, the war is already significantly affecting economic confidence. Nevertheless, economic activity has progressively adapted to the pandemic, rebounding strongly in 2021, and as of mid-2022, remaining resilient to the headwinds from the war. Inflation has surged into double digits and is increasingly broad-based.

Keywords: EU cohesion policy; ECB interest rates; electricity grid; labor market participation; financial asset; wage-price spiral; digitalization advantage; higher-than-expected inflation; data provision; inflation reading; Inflation; Energy prices; Anti-money laundering and combating the financing of terrorism (AML/CFT); Global; Baltics (search for similar items in EconPapers)
Pages: 77
Date: 2022-09-02
New Economics Papers: this item is included in nep-cis
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