Republic of Estonia: Staff Report for the 2004 Article IV Consultation

November 11, 2004

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Republic of Estonia: Staff Report for the 2004 Article IV Consultation, (USA: International Monetary Fund, 2004) accessed November 22, 2024

Summary

This 2004 Article IV Consultation highlights that economic activity has been gathering speed in Estonia. Year-over-year growth accelerated to 6.8 percent in 2004 Q1 from 5.8 percent in 2003 Q1, driven by domestic demand and supported by technology sector exports. Inflation accelerated in the first half of 2004 as a result of European Union tax harmonization. Estonia’s banking system remains financially sound. The percentage of nonperforming loans declined further and, at 0.4 percent of the total, is the lowest among transition countries.

Subject: Balance of payments, Banking, Credit, Current account deficits, External debt, Financial derivatives, Financial institutions, Money, Public debt

Keywords: Authorities' inflation, Baltics, CR, Credit, Current account deficits, Deficit, ERM II, Estonian authorities, EU accession, EU treaty, Financial derivatives, Global, Government, Implementation of legislation, ISCR, Lending, Surplus

Publication Details

Pages:

53
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2004/358
Stock No:

1ESTEA0022004
ISBN:

9781451812442
ISSN:

1934-7685

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