Hungary: Third Review Under the Stand-By Arrangement, Requests for Extension of the Arrangement, Rephasing of Purchases, and Modification of Performance Criterion
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Summary:
This paper discusses key findings of the Third Review Under the Stand-By Arrangement for Hungary. The end-June 2009 quantitative performance criteria, as well as the structural benchmark related to government lending to banks, were all met. The end-June indicative target on central government debt (excluding official financing) was not met for technical reasons. The key objectives of the program remain to improve fiscal sustainability and preserve financial stability. The macroeconomic outlook for 2009–10 has changed only modestly since the second review, reflecting in part the stabilization of the global outlook.
Series:
Country Report No. 2009/304
Subject:
Banking Credit Expenditure External debt Financial institutions Loans Money Public debt
Frequency:
Annually
English
Publication Date:
October 19, 2009
ISBN/ISSN:
9781451818154/1934-7685
Stock No:
1HUNEA2009004
Pages:
59
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