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The President of the Republic appointed the new President of the Bank of Estonia to office18.05.2005
 The President of the Republic today at Kadriorg signed a resolution to appoint Andres Lipstok President of the Bank of Estonia as of June 7, 2005. President Rüütel made his resolution pursuant to § 78, 12) of the Constitution, § 10 (1) of the Bank of Estonia Act, and the May 10, 2005 proposal of the Board of the Bank of Estonia.
At the meeting this morning at Kadriorg with the Chairman of the Board of the Bank of Estonia Mart Sõrg and Andres Lipstok, the situation in Estonian economy and banking sector, representation of banks in rural areas, as well as possibilities to develop public credit societies were discussed.
It was a common opinion that since Estonia was a EU Member State, it belonged to a stable economic space, and that stimulated the economic development of Estonia. President Rüütel said that the Bank of Estonia would preserve its role also within the European System of Central Banks, and singled out the importance of reliable economic analysis.
Public Relations Unit of the Office of the President
Kadriorg, May 18, 2005
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