The statute of the Fiscal Council requires the Eesti Pank Supervisory Board to nominate the Fiscal Council’s Chair, Vice-Chair and four members for a period of office of five years at the proposal of the Governor of the central bank. Members of the Council must have unblemished reputations, at least a Master’s degree or equivalent in economics, and experience necessary for the Fiscal Council to fulfil its functions. Members of the Fiscal Council may not have a job or other position that could affect the independence of the Council in its work.
The current composition of the Fiscal Council is as follows: Chair Peter Lõhmus, Vice-Chair Viljar Arakas, and members Karin Jõeveer, Ülo Kaasik, Robert Kitt and Martti Randveer.
