Republic of Estonia : Staff Report for the 2009 Article IV Consultation

1ESTEA2010001 Image
Price:  $18.00

Release Date: © January, 2010
ISBN : 978-1-45181-258-9
Stock #: 1ESTEA2010001
English
Stock Status: On back-order

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Description

This 2009 Article IV Consultation highlights that the credit-fueled boom has resulted in a relatively large nonfinancial private sector debt stock in Estonia. With declining incomes, unemployment increasing sharply, and asset prices depressed, balance sheets of households and firms are under strain, weighing on domestic demand. Nonperforming loans have increased to more than 6 percent of total, and some banks are reporting losses. Executive Directors have supported the authorities’ aim toward speedy adoption of the euro, noting its effects in fostering stability and confidence.

Taxonomy

Economic policy , Economic sectors , Fiscal policy , Monetary policy , Private sector




More publications in this series: IMF Staff Country Reports