Front Matter Page
European II Department
Authorized for distribution by John Odling-Smee
Contents
I. Introduction
II. Background to the Currency Reform
A. The Early Days
B. Independence and the Imperative of Currency Reform
III. Implementation
IV. Assessment
V. Summary and Conclusion
Text Table
1. The Logistics of the Currency Reform
Figures
1. Developments in Consumer Price Inflation, 1991–94
2. Real GDP Growth, 1991-94
3. Developments in Reserves
4. Real Effective Exchange Rate, 1992-94
Text Boxes
1. Estonia and the IMF
2. The Estonian Economy in Early 1992
References
Appendix
1. Joint Statement by the Government of Estonia and the International Monetary Fund on Currency Reform, News Brief 92/16