Eesti Pank / Bank of Estonia

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Annual Report 2000*

CONTENTS

ECONOMIC DEVELOPMENT IN 2000
I. WORLD ECONOMY
America
Asia
Europe
Finland and Sweden
Transition Economies in Central and Eastern Europe
Latvia and Lithuania
Russia
Financial Markets of Developed Countries
II. 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
III. 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
IV. 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
V. 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
VI. 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
VII. RESERVE MANAGEMENT
Investment Environment
Impact of Global Economic Trends
Foreign Exchange Reserve Investment Results
Investment Portfolio
Benchmark Portfolio
Real Portfolio
CO-OPERATION AND COMMUNICATION
VIII. 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
IX. 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
X. EESTI PANK'S ORGANISATION
General Management
Reorganisation of Organisation and Areas of Responsibility
Management Supporting Activities
Personnel Policy
Training
Traditions and Hobbies
FINANCIAL STATEMENTS OF EESTI PANK FOR 2000
Notes to the Financial Statements of Eesti Pank
Independent Auditors' Report
APPENDICES
Chronicle - 2000
The Strategic Development Plan of Eesti Pank
Communication Channels of Eesti Pank
STATISTICS

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