national organization participation: BIS, CBSS, CCC, CE, EBRD,
ECE, EU (applicant), FAO, IAEA, IBRD, ICAO, ICFTU, ICRM, IFC, IFRCS,
IHO (pending member), ILO, IMF, IMO, Interpol, IOC, ISO
(correspondent), ITU, NACC, OSCE, PFP, UN, UNCTAD, UNESCO, UNMIBH,
UPU, WEU (associate partner), WHO, WIPO, WMO, WTrO (applicant)

Diplomatic representation in the US:
chief of mission : Ambassador (vacant); Charge d'Affaires Lauri LEPIK
chancery: 2131 Massachusetts Avenue NW, Washington, DC 20008
telephone: [1] (202) 588-0101
FAX: [1] (202) 588-0108
consulate(s) general: New York

Diplomatic representation from the US:
chief of mission : Ambassador Lawrence P. TAYLOR
embassy: Kentmanni 20, Tallinn EE 0001
mailing address: American Embassy, Tallinn; PSC 78, Box T; APO AE
09723
telephone: [372] (6) 312-021
FAX: [372] (6) 312-025

Flag description: pre-1940 flag restored by Supreme Soviet in May 1990
- three equal horizontal bands of blue (top), black, and white

Economy

Economy - overview: Estonia continues to experience strong economic
growth after its economy bottomed out in 1993. Bolstered by a
widespread national desire to reintegrate into Western Europe, Estonia
has adhered to disciplined fiscal and financial policies and has led
the FSU countries in pursuing economic reform. Monthly inflation has
been held to 2% in 1995-96. Following four years of decline, Estonia's
GDP grew at 3% in 1995 and 1996. Despite these positive economic
indicators, the current account deficit is widening. The resident IMF
representative in Estonia has been worried since early 1996 about a
rising public sector deficit boosted by local government spending.
Small- and medium-scale privatization is essentially complete, and
large-scale privatization is progressing gradually. In 1996, Estonia's
national airline was privatized; in 1997 Estonia plans to privatize
large infrastructure, i.e., Eesti Energia, Tallinn Port, Estonian
Telecom, and Oil Shale. Estonia has successfully reoriented its trade
toward the West, two-thirds of exports now going to Western markets.
Estonia's free trade policies were the cornerstone of its negotiations
with the European Union, and led to the signing of an association
agreement in June 1995. Estonia was the only Baltic state not to have
a transition period imposed by the EU prior to its implementation of a
free trade agreement.

GDP: purchasing power parity - $8.1 billion (1996 estimate as
extrapolated from World Bank