Executive Board
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Board Discussions
on Hungary:

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March 18, 2013
January 18, 2012
June 8, 2011
January 31, 2011
March 24, 2010

Article IV Staff Reports

Financial Sector Assessment Program

Projected % Change
   2014  2015
Real GDP 2.8 2.3
Consumer Prices 0.3 2.3
Source: World Economic Outlook (October 2014)
Please refer to more recent PIN/Staff reports on this country for possible revisions.

Hungary: Financial Position in the Fund

Transactions with the Fund


IMF Resident Representative
Office in Hungary


Regional Office for Central Europe and Baltics

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Hungary and the IMF
Updated October 11, 2014

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IMF Survey Online
March 29, 2013 -- IMF Survey : Lack of Growth Hampers Hungary’s Economy
Hungary managed to navigate a challenging financial year and maintained economic stability in 2012, but the economy slipped into its second recession in four years and GDP declined by 1.7 percent, the IMF said in its latest annual check-up of the country’s economic health.
January 25, 2012 -- IMF Survey: Hungary Struggles as Growth Slows, Investors Retreat
Hungary’s government needs to improve its economic governance and fiscal policy mix as the euro zone crisis creates uncertainty for one of Europe's key emerging markets, the IMF says in its latest annual assessment of the country's economy.
April 15, 2011 -- IMF Survey: IMF Support Helping Restore Growth but Key Risks Ahead
A new study finds that countries which sought financial support from the IMF in late 2008, after the failure of Lehman Brothers, are experiencing a return to growth. IMF financing helped countries stabilize their economies when their access to financial markets was seriously curtailed.
December 28, 2009 -- IMF Survey: Multi-Speed Recovery Seen for Europe
As 2009 draws to a close, IMF European Department Director Marek Belka says that what is striking about Europe is how differently countries fared during the global crisis. These different points of departure will also make for a multi-speed recovery, Belka argues.
December 04, 2009 -- IMF Survey: Reforms Should Follow Stabilization in EU's New Members
European Union countries in central and eastern Europe worst hit by the global financial crisis have successfully stabilized their economies and now should focus on reforms to put them back on the road to convergence with other EU members.
October 28, 2009 -- IMF Survey: Agreement with Banks Limits Crisis in Emerging Europe
In an interview, Erik Berglöf (European Bank for Reconstruction and Development) and Anne-Marie Gulde (IMF) discuss the impact of the European Bank Coordination Initiative, which has played a key role in helping emerging Europe avert systemic crisis.
August 03, 2009 -- IMF Survey: Hungary Succeeds in Early Return to Market Financing
Hungary's government raises €1 billion in July by selling bonds on international capital markets—a step that signals the return of investor confidence in the central European country, which has one of the economies hardest hit by the global financial crisis.
April 24, 2009 -- IMF Survey: Financial Sector Key to European Recovery: IMF
While there is room for cautious optimism that Europe’s economy will turn the corner in mid-2010, the financial sector holds the key to recovery and governments must act more forcefully to clean up banks, Marek Belka, head of the IMF’s European Department, says.
January 14, 2009 -- IMF Survey: IMF Helping Counter Crisis Fallout in Emerging Europe
The financial crisis has hit Europe hard. In an interview, IMF European Department head Marek Belka talks about Europe's prospects for recovery and the principles that guide the Fund as it seeks to help Europe's emerging economies counter the fallout of the crisis.
January 12, 2009 -- IMF Survey: Hungary: Markets Have Stabilized, but Long Road Ahead
Hungary's financial markets have stabilized since the IMF approved a $15.7 billion loan to back a program designed to ease financial market stress and support economic activity. But the road ahead is long, says James Morsink, the IMF's mission chief for Hungary.
November 06, 2008 -- IMF Survey: IMF Agrees $15.7 Billion Loan to Bolster Hungary's Finances
The IMF's Executive Board approves a $15.7 billion loan for Hungary as part of a program designed to ease financial market stress in the East European country while supporting longer-run economic goals of reforming government finances and the banking sector.
October 28, 2008 -- IMF Survey: IMF, EU, and World Bank Line Up $25 Billion for Hungary
The IMF, the European Union, and the World Bank announce a joint financing package for Hungary totaling $25 billion to bolster its economy, hit by recent financial market turbulence. The announcement followed earlier outline agreements on IMF financing for Iceland and Ukraine.
October 26, 2008 -- IMF Survey: IMF Set to Lend Ukraine $16.5 Billion, In Talks With Hungary
The IMF says it has reached a tentative agreement with Ukraine to lend the eastern European country $16.5 billion to help it combat a series of economic problems tied to the international financial turmoil and announced broad agreement with Hungary on a set of policies designed to bolster near-term stability.
October 22, 2008 -- IMF Survey: IMF in Talks on Loans to Countries Hit by Financial Crisis
The IMF, which has announced its readiness to lend billions of dollars to support nations hit by fallout from the global financial turmoil, is holding talks with several countries about possible new lending programs, as well as advising governments how to react to the economic downturn.