Republic of Estonia

The staff report for the 2005 Article IV Consultation on the Republic of Estonia focuses on the economic outlook and risks. Robust economic growth continues, largely driven by domestic demand. Estonia has achieved significant nominal convergence; meeting all of the Maastricht criteria, save for inflation. Estonia’s banking system remains financially sound, with strong profitability continuing despite increased competition. It is important for Estonia to maintain the high degree of market flexibility that has been achieved.Economic growth;Economic indicators;Staff Reports;Structural adjustment;inflation, current account, external debt, current account deficit, currency board, reserve assets, gdp deflator, foreign currency, inflationary pressures, short-term debt, balance of payments, current account balance, effective exchange rates, domestic saving, nominal interest rate, net external debt, total external debt, external financing, debt sustainability, central bank, debt ratio, public sector debt, domestic currency, external debt sustainability, short term debt, real interest rates, macroeconomic stability, external borrowing, debt stock, external shocks, foreign exchange, financial stability, inflation data, foreign currency debt, inflationary pressure, net debt, reserve holdings, monetary policy, low inflation, rising inflation, amortization payments, private external debt, average inflation, dollar value, government loan, current account deficits, government debt, inflation rate, currency debt, foreign loans, general resources account, long-term debt, debt service, debt dynamics, aggregate demand, public debt, debt data, inflation dynamics, current account surplus, debt service to exports, inflationary impact