IMF delegation visiting Estonia

  • 2024-04-02
  • BNS/TBT Staff

TALLINN - From Tuesday until April 15, a delegation from the International Monetary Fund (IMF) is visiting Estonia to discuss the current economic situation and related economic policy measures with representatives from the public and private sectors.

The visit is part of the IMF's annual economic policy consultations.

This year's meetings are focused on Estonia's long-term competitiveness. The IMF delegation is interested in how inflation, wage growth, and economic downturn have affected the competitiveness of Estonian companies. Additionally, the IMF seeks to gain an overview of the current economic situation, planned changes in tax policy, and the fiscal position. The delegation will also inquire about the structure of Estonia's state budget expenditures and tax base, and how these compare to similar countries. Estonian authorities will provide mission members with an overview of activities supporting economic growth, which are necessary to achieve our economy's digital and green transition goals.

During the visit, the IMF delegation will gain a comprehensive view of the situation and prospects of the Estonian financial sector, as well as changes in policies and management for preventing money laundering. As in previous years, the readiness of Estonian financial supervisory authorities to take additional steps to ensure financial stability, should it become necessary, is also a topic of discussion.

The discussions take into account that the Estonian economy has contracted for two consecutive years, with the current downturn being more protracted compared to previous instances.

The IMF delegation will meet with members of the government and the Riigikogu, as well as with the leaders and analysts of Bank of Estonia, ministries, government agencies, and the Financial Supervision Authority. Meetings with representatives of commercial banks, professional associations, and private companies are also planned.

The IMF discusses key economic policy issues with all its member countries once a year. As a result of the consultation, a report is prepared that reflects the IMF experts' assessment of Estonia's economic policy.