Hungary : 2008 Article IV Consultation: Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion

Author/Editor:

International Monetary Fund

Publication Date:

September 24, 2008

Electronic Access:

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Summary:

The Article IV Consultation highlights the financial system risks that have increased reflecting both the global financial market turbulence and continued rapid credit growth in Hungary. With most new borrowing in foreign currency, the private sector’s net foreign currency liabilities increased. Monetary policy has been appropriately tightened, and the elimination of the exchange rate band has removed a potential conflict between monetary policy objectives. Executive Directors called for enhanced collaboration with foreign supervisory authorities given Hungarian banks’ close links with financial institutions abroad.

Series:

Country Report No. 08/313

Subject:

English

Publication Date:

September 24, 2008

ISBN/ISSN:

9781451818093/1934-7685

Stock No:

1HUNEA2008001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

46

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