Eesti Pank Strategy 2022-2026

Eesti Pank’s strategy for 2022-2026 was put together in summer 2021. The strategy is brought up to date each year and whether it needs to be reviewed is assessed. The strategy firstly presents a general picture of the most important activities and functions of Eesti Pank, then focuses on four development tasks.

Eesti Pank’s mission

As the central bank of the Republic of Estonia and a member of the Eurosystem, we contribute to the sustainable development of the Estonian economy and to increased prosperity for Estonia. We keep price growth moderate, setting a single monetary policy together with the other central banks of the euro area and implementing it in Estonia. We maintain the stability of the Estonian financial system by helping to set policy for the financial sector. We ensure that cash is of good quality and promote a safe and efficient payment environment. We give an independent assessment of the state and outlook of the economy, we advise the government on important matters of economic policy, and we produce high-quality statistics.

Eesti Pank’s vision

The positions and actions of Eesti Pank have an impact both in Estonia and abroad. Eesti Pank is an efficient and innovative organisation and is the most highly regarded centre of competence in Estonia on questions of finance and the economy at the macro level.

The main functions of Eesti Pank

Eesti Pank is the central bank of the Republic of Estonia and is a constitutional institution, and it operates independently of any other state institution. The primary objective of the central bank is to maintain price stability. The main functions of Eesti Pank are set out in the Eesti Pank Act and there follows here a description of them together with the topics that are the key focus for the central bank within those functions.


Eesti Pank’s key development tasks 2022-2026

Development task 1

In advising the government and the public and in carrying out macroprudential supervision, Eesti Pank will focus primarily in the coming years on the stability and sustainability of the economy and the financial sector.

 

Development task 2

Eesti Pank is ready to carry out its duties in the event of various crises, providing extraordinary liquidity assistance to banks if needed and ensuring the functioning of payments and cash circulation in an emergency. Eesti Pank is sufficiently well capitalised to ensure it has sufficient buffers even under unfavourable circumstances.

 

Development task 3

Eesti Pank makes sure of the security, continuity and cyber resilience of its information systems even when staff are working outside the buildings of the bank. Developing the information systems supports Eesti Pank in fulfilling its main duties and in organising its work more efficiently.

 

Development task 4

Eesti Pank is a responsible organisation that prioritises the principles of sustainable development.