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Republic of Estonia: 2013 Article IV Consultation
Author:
International Monetary Fund. European Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2013: Issue 114
Language:
English
Publication Date:
13 May 2013
DOI:
https://doi.org/10.5089/9781484310380.002
ISBN:
9781484310380
ISSN:
1934-7685
Pages:
70
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
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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund