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

International Monetary Fund

No 2001/014, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; Estonia review; deficit; privatization program; authority; Estonian authorities; transit company; deficit target; legislation indexing; current account; banking system; Commercial banks; Foreign assets; Monetary base; Personal income tax; Asia and Pacific; Baltics; Global (search for similar items in EconPapers)
Pages: 42
Date: 2001-01-11
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