Eesti Pank News

Martti Randveer Confirmed Deputy Governor of Eesti Pank

The Eesti Pank Supervisory Board confirmed Martti Randveer, currently head of the Economics and Research Department, as Deputy Governor for a five-year term. Martti Randveer will take up the post on 7 June 2026. This appointment completes the new Executive Board composition alongside incoming Governor Ülo Kaasik and remaining Deputy Governor Andrus Alber.

Estonia Energy Prices Lower, Inflation Forecast 3.8% Peak

Eesti Pank economist Sulev Pert reports that Estonia was the only euro area country where energy prices fell in March 2026 (down 1.4%), while euro area energy prices rose 6.8% on average. Electricity exchange prices dropped 40% in March following high winter prices in the Baltic states. Motor fuels surged due to Middle East conflict tensions, with diesel up 27% and petrol up 14% month-over-month. The forecast projects consumer prices will rise 3.8% for 2026, with inflation peaking at year-end.

Estonia Attends IMF and World Bank Spring Meetings

Governor of Eesti Pank Madis Müller, Advisor on External Relations at the Ministry of Finance Märten Ross, and Deputy Director General of the Estonian Tax and Customs Board Janek Rozov attended the spring meetings of the IMF and World Bank on 15–18 April in Washington. Discussions focused on economic policy coordination amid uncertainty from the Middle East conflict, trade tensions, and tightening financing conditions, with the IMF recommending fiscal policy support monetary policy goals and the World Bank prioritizing job creation in developing countries. Estonia also held bilateral meetings with IMF and World Bank management, US Treasury staff, and presented its digital and AI solutions for tax and customs revenue collection.