The paper is an economic history of the IMF’s involvement in the Baltic states. It describes and analyzes the initial economic stabilization; the period of consolidation and recovery; the effects of the Russian crisis of 1998; and the current growth phases of Lithuania, Latvia, and Estonia. There...

In this paper the evolution and experiences of exchange rate strategies in Austria and Finland are analyzed. Following Finland's change of emphasis in the 1980's, both countries now use the exchange rate to achieve low inflation. Experience shows that achieving credibility takes time and is not...

This paper reviews the history of the introduction of the Estonian kroon under a currency board arrangement. On June 20, 1992, Estonia became the first country from the former Soviet Union to abandon the Russian ruble and introduce its own currency. The paper looks at the factors behind this...