"Dear friends, today I draw a line under a 19-year stage of my life. I am leaving at a very tense but also very interesting time with a lot of big decisions and activities (happening) in Estonian politics," Pentus-Rosimannus wrote on social media.

"My work in this government is done, and I am resigning from my position as Minister of Finance to make way for candidates in the next elections, as well as to concentrate on preparing myself for the position as member of the European Court of Auditors," Pentus-Rosimannus wrote.

Pentus-Rosimannus was nominated as Estonia's representative at the European Court of Auditors (ECA), a decision which has not been without controversy.

Pentus-Rosimannus said, that her decision to leave politics means she will not be returning to the Riigikogu on Wednesday, but will instead go on parental leave for the next few months.

She additionally confirmed that she will not stand in the spring elections to the Riigikogu. Pentus-Rosimannus will also resign from her role as Reform's vice-chair and from the party's board if she is confirmed as a member of the European Court of Auditors.

The Reform Party leadership will meet on Tuesday evening to nominate Pentus-Rosimannus ' replacement in the role of Minister of Finance.

According to a government press release the prime minister will hand Pentus-Rosimannus' resignation to President Alar Karis on Wednesday morning.

"Keit Pentus-Rosimannus held the office of the minister of finance at a difficult time. a time of crisis, (during which she) needed to put together four budgets and national budget strategies.," said Prime Minister Kaja Kallas (Reform).

"(These) difficult times have given her the opportunity to prove her worth, both as a political leader and an expert in public finance, with an outstanding performance capacity and sense of responsibility. Keit has been a valuable member of the team. On the one hand, I am sorry to see Keit go, but on the other, I am glad that she will be able to prove herself also at the European Court of Auditors. I wish Keit success in her candidacy and strength in standing up for financial discipline across Europe," said Kallas.

The name of the new finance minister will be announced by the prime minister as soon as the leadership of the Reform Party has confirmed the candidate at its meeting today. Pentus-Rosimannus will continue to perform the duties of the minister of finance until the new minister takes office. The minister is appointed by the President of the Republic after receiving a proposal from the prime minister. The new minister will assume office by taking an oath of office before the Riigikogu.

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Editor's note: This article was updated to include comments from Prime Minister Kaja Kallas.