The IMF finds that the Estonian public debt is on an unsustainable trajectory

The International Monetary Fund (IMF) warned in its concluding statement of its economic policy discussions in Estonia that Estonia’s public debt will be on an unsustainable trajectory under current policies. Eesti Pank agrees with the assessment of the IMF and considers that the solution would be a cross-party agreement in Estonia like those in Sweden and Finland to keep the public finances on a sustainable track.
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Eesti Panga logo

Eesti Pank Museum

3. May 1919 CENTRAL BANK COMMENCES OPERATIONS. The fixed capital of 10 million marks was recorded in the general ledger and Eesti Pank commenced regular operations.
MUSEUM

On the front, the banknotes display windows and gateways. They symbolise the European spirit of openness and cooperation. The 12 stars of the European Union represent the dynamism and harmony of contemporary Europe. The bridges on the back symbolise communication between the people of Europe and the rest of the world. The architectural style of the particular era was used in the design, with no reference to specific buildings.

Estonian kroon

Exchange kroons
The Estonian monetary system was based on the system of the currency board, meaning that the exchange rate of the kroon was strictly pegged to a reserve currency. From then until 31 December 2001 the exchange rate of the kroon against the German mark was fixed at EEK 8 = DEM 1, and thereafter the exchange rate of the kroon against the euro was fixed at EEK 15.6466 = EUR 1 (the exchange rate effective to date).