Republic of Estonia: 2013 Article IV Consultation
IMF Staff Country Reports, May 13, 2013
Source details
- Canonical URL
- Republic of Estonia: 2013 Article IV Consultation
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Bibliographic details
- Published: May 13, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484310380.002
Main findings
- Estonia has succeeded in reducing its macroeconomic imbalances and vulnerabilities.
- The country faces the challenge of preserving its hard-earned fiscal and financial stability and enhancing long-term growth prospects.
- 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.
Policy recommendations and frameworks
- Adopt a fully fledged medium-term fiscal framework to:
- Help assess policy trade-offs.
- Avoid procyclical policies.
- Strengthen macroprudential policies to safeguard financial sector stability.
- Enhance cross-border prudential arrangements in the Nordic-Baltic region and engage with the EU banking union to improve financial stability.
- Implement policies to:
- Safeguard external competitiveness.
- Address skill mismatches.
- Accelerate human capital accumulation.
Subjects and keywords (as listed)
- Subjects: Banking, Expenditure, External debt, Financial derivatives, Financial institutions, Inflation, Prices, Public debt
- Keywords: Baltics, core inflation, CR, economy, energy market liberalization, exchange arrangement, faster-than-expected euro area recovery, Financial derivatives, Global, Inflation, ISCR, Ministry of Finance homepage, monetary policy interest rates, ROSC