Hungary : Stand-By Arrangement: Interim Review Under the Emergency Financing Mechanism

Author/Editor:

International Monetary Fund

Publication Date:

January 23, 2009

Electronic Access:

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Summary:

This paper focuses on the Stand-By Arrangement for Hungary under the Emergency Financing Mechanism. Economic indicators confirm that the downturn envisaged in the program is already under way. The new bank support law is important, as it provides Hungarian banks with access to capital enhancement and borrowing guarantee facilities. The gradual reductions in the policy interest rate have been appropriate. Looking ahead, continued implementation of policies in line with the program is essential to maintain investor confidence and minimize the depth of the economic downturn.

Series:

Country Report No. 09/21

Subject:

English

Publication Date:

January 23, 2009

ISBN/ISSN:

9781451818123/1934-7685

Stock No:

1HUNEA2009001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

13

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