Eesti Pank Annual Report 2000

ECONOMIC DEVELOPMENT IN 2000

WORLD ECONOMY

America
Asia
Europe
Finland and Sweden
Transition Economies in Central and Eastern Europe
Latvia and Lithuania
Russia
Financial Markets of Developed Countries

ESTONIA'S REAL ECONOMY AND FINANCIAL SECTOR

Real Sector
External and Monetary Environment
Financing and its Sources
External and Domestic Demand
Government Sector
Inflation
Privatisation and Other Economic Reforms
Financial Intermediation
Banking Sector
Securities Market and Investment Funds
Insurance

EESTI PANK IN INTERNATIONAL ECONOMIC AND FINANCIAL SYSTEM

INTERNATIONAL ENVIRONMENT

Estonia's Integration into the European Union: Policy Environment
Economic Policy Issues in the European Integration
Increase in Income - Economic Policy Priority of the European Integration
Real Convergence and Copenhagen Criteria
Price Convergence Concerns
Exchange Rate Policy upon Accession to the European Union
Economic Policy Co-operation between the European Union and Candidate Countries
New Enhanced Economic Policy Dialogue
European Central Bank and the EU Enlargement
International Monetary Fund as Designer of Monetary and Banking Policy Environment
Financial System Assessment
Standards and Good Practice
Transparent Economic Policy

ENSURING MONETARY POLICY STABILITY

Estonia's Monetary Policy Consistency and Development
Monetary Policy Framework and Operational Possibilities
Reform of Monetary Policy Operational Framework
External-Reserves-Based Liquidity Management
Anticipated Implications of Reserve Requirement System Reform
Promoting Economic Analysis: Economic Forecasts and Research
Statistics: Improvement and Disclosure

BANKING POLICY AND BANKING SUPERVISION

Consolidation of Financial Stability
Updating Regulatory Framework
Strengthening Market Discipline
Domestic Co-operation
Disposal of Majority Holding in Optiva Pank
Structure of Banking Supervision
Co-operation with Other Supervisory Bodies and Auditors
Co-operation for Prevention of Money Laundering
Creating Unified Financial Supervision
Financial Sector Assessment Program

PAYMENT AND SETTLEMENT SYSTEM

Development of Inter-Bank Settlement System in 2000
Payment Instruments
Cash Demand
Issue of Banknotes and Coins and Their Structure
Cash Movement
Introduction of New Banknotes, Cash Examination

RESERVE MANAGEMENT

Investment Environment
Impact of Global Economic Trends
Foreign Exchange Reserve Investment Results
Investment Portfolio
Benchmark Portfolio
Real Portfolio

CO-OPERATION AND COMMUNICATION

INTERNATIONAL CO-OPERATION

Eesti Pank's Role in European Integration
General Political Documents in European Integration
Europe Agreement
Accession Negotiations in 2000
Co-operation with European Central Bank
Other Co-operation Projects with European Union
Economic Policy Co-operation between Estonia and International Monetary Fund
Stand-by Arrangement and Memorandum of Economic Policies
Estonia's Financial System Assessment and Compliance with Standards and Codes of Good Practices
Co-operation in Nordic-Baltic Constituency
Co-operation with Other International Organisations
Co-operation with Other National Central Banks
Eesti Pank and Country Rating

CENTRAL BANK AND PUBLIC

Eesti Pank's Communication Policy: Principles
Objectives
Implementation
Output-Related Changes in 2000
Analytical Materials
Innovations on Web Site

ORGANISATIONAL DEVELOPMENT

EESTI PANK'S ORGANISATION

General Management
Reorganisation of Organisation and Areas of Responsibility
Management Supporting Activities
Personnel Policy
Training
Traditions and Hobbies

ANNUAL ACCOUNTS OF EESTI PANK for the Financial Year Ended 31 December 2000

Notes to the Financial Statements of Eesti Pank
Independent Auditors' Report

APPENDICES

CHRONICLE - 2000
THE STRATEGIC DEVELOPMENT OF EESTI PANK
COMMUNICATION CHANNELS OF EESTI PANK
STATISTICS