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03.07.2020|Ministry of Finance

Estonia signs an agreement with Freeh Sporkin & Sullivan for advice on investigations into past AML cases

Martin Helme, Minister of Finance of Estonia, has signed an agreement with the US law firm Freeh Sporkin & Sullivan for legal advice and representation in the United States in connection with international investigations into past AML breaches.  The law firm will be a partner for the...
18.06.2020|Ministry of Finance

Estonia fully transposes the European Union money laundering directives

The Parliament of Estonia yesterday approved the amendments to the Money Laundering and Terrorist Financing Prevention Act, which significantly enhances the current possibilities for the prevention of money laundering. The approved amendments improve the definition of money laundering, provide...
18.06.2020|Ministry of Finance

The fight against money laundering is centred within the jurisdiction of the Ministry of Finance

The amendments of the Money Laundering and Terrorist Financing Act, passed yesterday by the Riigikogu, brings the Financial Intelligence Unit, which until now has been a part of the Police and Border Guard Board, under the administration of the Ministry of Finance, as an autonomous institution. The...
03.06.2020|Ministry of Finance

High demand from international investors for Estonia’s government bond issue

Estonia’s issue of 10-year government bonds on Wednesday, returning to the market for the first time since 2002, resulted in very high demand from investors. 280 institutional investors from all over the world placed EUR 7.7 billion of orders for the bonds. Given this high level of interest,...
02.06.2020|Ministry of Finance

Financial Intelligence Unit to become a separate institution

As agreed by the government coalition, the Financial Intelligence Unit (FIU), currently a part of the Police and Border Guard Board, is to become a separate institution in the area of government of the Ministry of Finance.  Minister of Finance Martin Helme on has presented the Finance...
26.05.2020|Ministry of Finance

Estonia has mandated banks for a potential EUR 10 year benchmark transaction

The Republic of Estonia, rated AA- by Standard and Poor’s, AA- by Fitch and A1 by Moody's, has mandated Citi, Nordea and Societe Generale for a potential EUR benchmark 10 year RegS only transaction in the future, subject to market conditions. The issuer is available for 1-on-1 calls and a Global...
21.04.2020|Ministry of Finance

The platform created at the hackathon collects data about protective means

The state launches a digital solution for monitoring the stocks and prognosis of personal protective means, created during the hackathon The Global Hack, which will simplify and make more comprehensive, the collection of information. The coronavirus, according to Minister of Public Administration...
13.04.2020|Ministry of Finance

Supplementary budget includes lower excise duties and a temporary suspension of funded pension payments

The state supplementary budget presented to the parliament includes measures easing the payment of taxes by companies, lower excise duties as well as lowering the value added tax payable on digital publications. Other measures will introduce a higher rate of tax deduction on forest sales revenue...
30.03.2020|Ministry of Finance

Fitch affirmed Estonia's sovereign rating at its current high level

The rating agency Fitch affirmed Estonia's long-term sovereign rating at the current high AA level with a stable outlook. Estonia, as a small and open economy, is susceptible to external shocks such as the Covid-19 epidemic, which is currently spreading, the Estonian government has reacted quickly...
27.03.2020|Ministry of Finance

The Nordic Investment Bank grants Estonia a loan of EUR 750 million

The Nordic Investment Bank (NIB) and the Estonian state, signed a loan agreement of EUR 750 million, to finance the economic measures, necessary to mitigate the effects of the coronavirus. "We are actively dealing with creating a sufficient financial buffer for the Estonian state. We issued on...

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