From today until 15 April a delegation from the International Monetary Fund, the IMF, will be visiting Estonia to discuss the state of the country’s economy and the economic policy steps taken in relation to it with representatives of the government and private businesses. The visit is part of the IMF's annual economic policy consultation.

The main topic of the meetings this year is Estonia’s long-term competitiveness. The IMF delegation is interested in how inflation, wage rises and the recession have affected the competitiveness of Estonian companies. The delegation also wants to hear about the current state of the economy, the planned changes to tax policy, and the fiscal position. The IMF will also discuss the cost structure and tax base of the Estonian state budget, and how different they are to those of other similar countries. Members of the mission will hear a review from Estonian state institutions about the factors that support the growth in the economy that will be needed for Estonia to achieve its goals in the digital and green transition.

During its visit the IMF delegation will also be informed about the state of the financial sector and the outlook for it, and about changes in anti-money laundering policy and management. As in previous years, the discussion will cover the readiness of the Estonian financial supervisory institutions to take additional steps for the sake of financial stability if needed.

The background to the discussions is that the Estonian economy has been shrinking for two years in a row, and the current recession is proving longer and more persistent than earlier episodes.

The IMF delegation will meet members of the government and the Riigikogu, and leaders and analysts from Eesti Pank, Finantsinspektsioon and various ministries and official institutions. Meetings are also planned with representatives of commercial banks, professional associations and private companies.

The outcome of the IMF visit will be presented by the head of the team Vincenzo Guzzo on Monday 15 April at 11.30 at a press conference in Eesti Pank, where he will be joined by the Governor of Eesti Pank Madis Müller and Minister of Finance Mart Võrklaev.

The International Monetary Fund discusses important economic policy issues with its member countries once a year. The consultation is followed by a report of the IMF’s expert assessment for economic policy in Estonia.

Further information:
Hanna Jürgenson
Communications Specialist
Eesti Pank
Tel: 5692 0930
Press enquiries: [email protected]