It is no wonder that some observers refer to Estonia as a modern Wirtschaftswunder. On a foreign economic front, we have earned the justified reputation for free-wheeling liberalism. We Estonians are a modest people, so we prefer to refer to ourselves using a term coined by Newsweek magazine not long ago as The Little Country That Could. Others say that our economic policies would make even Milton Friedman blush. These policies have borne fruit.
Foreign investments are up, as are exports.
This year, in fact, Estonia ranks fourth among central European states in direct foreign investments per capita. Trade has also reoriented. Our currency is among the most stable in Scandinavia, and our foreign currency reserves have more than tripled since the kroon was introduced in 1992. Our internal reorientation to a free market economy is going well. We also have full repatriation of profits for foreigners doing business in Estonia.