Republic of Estonia: Staff Report for the 2009 Article IV Consultation

January 8, 2010

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Republic of Estonia: Staff Report for the 2009 Article IV Consultation, (USA: International Monetary Fund, 2010) accessed November 22, 2024

Summary

This 2009 Article IV Consultation highlights that the credit-fueled boom has resulted in a relatively large nonfinancial private sector debt stock in Estonia. With declining incomes, unemployment increasing sharply, and asset prices depressed, balance sheets of households and firms are under strain, weighing on domestic demand. Nonperforming loans have increased to more than 6 percent of total, and some banks are reporting losses. Executive Directors have supported the authorities’ aim toward speedy adoption of the euro, noting its effects in fostering stability and confidence.

Subject: Banking, External debt, Financial derivatives, Financial institutions, Fiscal policy, Fiscal stance, Income, National accounts, Public debt

Keywords: Baltics, BoE balance-sheet data, C. government finance statistics, CR, Debt, Estonia, Financial derivatives, Fiscal stance, Global, Income, Inflation rate, Interbank interest rate differential, ISCR, Maastricht reference value, Quarter, Staff appraisal, Statement report, Value

Publication Details

Pages:

56
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/004
Stock No:

1ESTEA2010001
ISBN:

9781451812589
ISSN:

1934-7685

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