Eesti Pank is celebrating the 30th anniversary of the monetary reform



This June sees the 30th anniversary of the monetary reform of 1992 that laid the cornerstone for the rapid development of the Estonian economy and its integration with Europe. Eesti Pank opened a photographic exhibition today in Tammsaare Park in Tallinn to mark this, and is hosting a public seminar to commemorate the reform.

“20 June 2022 marks the 30th anniversary of monetary reform in Estonia and the launch of the Estonian kroon, one of the symbols of the restoration of Estonian independent statehood. The reform of 1992 is of exceptional importance for Estonia, as starting to use our own money laid the foundations for the rapid development of the Estonian economy and its integration with Europe. This success story later led to us having the euros we use today in our wallets”, said Governor of Eesti Pank Madis Müller, adding that money is not just a means of payment, it is also important for security. “Under current circumstances we understand better than ever before the importance of the steps taken in the early 1990s to introduce our own currency and reform our economy”, he said.

An exhibition of photographs will be shown in Tammsaare Park in Tallinn from 3 June to 8 July to commemorate the events of 30 years ago. It tells the exciting story of the return of an Estonian currency. It puts the reform in the context of key events before and after it, and presents the leading figures involved. From 16 June the Eesti Pank Museum will host an exhibition on the artistic details of the kroon banknotes, with pencil drawings by the artist who designed the Estonian kroons, Vladimir Taiger, showing details from the pictures on the banknotes.

To commemorate the reform and to discuss the challenges of the future facing Estonia and Europe, Eesti Pank is hosting a half-day public seminar on 30 years since the Estonian monetary reform in Eesti Pank on 20 June 2022, and it will be available for everyone to watch on Youtube and Facebook. Vice-President of the German central bank Claudia Maria Buch will look back at the social processes of 30 years ago, drawing out lessons and challenges for Europe today. Former Governors of Eesti Pank Siim Kallas, Vahur Kraft, Andres Lipstok and Ardo Hansson will join current Governor Madis Müller for the discussion panel at the seminar. They will discuss the economic policy victories and challenges of the past 30 years and the reforms awaiting Estonia more broadly. The former President of the Republic of Estonia, Kersti Kaljulaid, will chair the discussion.

The exhibition in Tammsaare Park

Additional information:
Hanna Jürgenson
Eesti Pank
Tel: 668 0965
Press enquiries: [email protected]