Despite enduring one of the sharpest contractions in the EU, Estonia has been successful in its all-out efforts to join the euro area. Core prices have also begun increasing but at a moderate rate. Recent wage increases have defied not only high unemployment but also increases in vacancies and...

The economic recovery seems to be firmly established, supported by strengthened domestic private demand. The Bank of Estonia (BoE) is committed to maintaining the currency board until the euro becomes Estonia's official currency. The compliance with the Basel Core Principles (BCP) has improved...

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...

This 2002 Article IV Consultation highlights that the Canadian economy has slowed substantially since late 2000. The slowdown in large part has reflected the slowing in the United States economy, which has reduced growth in Canada’s exports and contributed to weakening private investment. In...

Estonia continues to be a strong performer among transition economies. Executive Directors commended the development, and stressed the need to maintain macroeconomic and fiscal policies, and accelerate structural reforms. They appreciated the progress made in implementing the recommendations of...

The Canadian economy ended the 1990s with a very strong performance, underpinned by the sound macroeconomic policies put in place during the decade. The Bank of Canada raised interest rates markedly in 2000 as estimates of slack in the economy were narrowing rapidly. Executive Directors agreed...

Canada’s 2005 Article IV Consultation highlights that it has benefited from a strong institutional framework and continuing structural reforms. Inflation targeting and structural reforms have yielded an enviable macroeconomic performance, including the fastest growth rate and the strongest...

The government’s strong monetary and fiscal policy framework, as well as the structural reforms introduced, have enabled the Canadian economy to respond flexibly to recent shocks and laid a solid foundation for recovery. Macroeconomic policies should remain supportive, with fiscal policy...

This 2003 Article IV Consultation highlights that Canada’s strong policy framework has brought impressive economic results, and the Canadian economy has proven exceptionally resilient in the face of the recent global downturn. Economic activity slowed relatively modestly in 2001, with only one...

A credible framework for macroeconomic policy, strong policy response, and resilient financial system have enabled Canada to exit the global crisis on a strong footing. Executive Directors encouraged authorities to maintain their prudent and far-sighted policies while strengthening productivity...