Front Matter

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

The Estonian Currency Board: Its Introduction and Role in the Early Success of Estonia's Transition to a Market Economy
Author: Mr. Andres Sutt, Mr. Basil B. Zavoiceo, and Mr. Adalbert Knöbl