Hungary : Staff Report for the 2010 Article IV Consultation and Proposal for Post-Program Monitoring

Publication Date: February 03, 2011
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Summary: Hungary was severely affected by the crisis. The financial sector has remained resilient throughout the crisis. The Central Bank (MNB) paused in mid-2010 and has tightened interest rates by 50 basis points since November in response to a sharp rise in risk premia and higher headline inflation prints. The importance of addressing financial sector vulnerabilities is discussed. Executive Directors welcomed efforts to support distressed mortgage holders, as long as moral hazard and fiscal costs are contained. A medium-term framework was implemented.
Series: Country Report No. 11/35
Subject(s): Article IV consultation reports | Banking sector | Debt sustainability | Economic indicators | External debt | Post-program monitoring | Public debt | Staff Reports

Publication Date: February 03, 2011
ISBN/ISSN: 9781455216642/1934-7685 Format: Paper
Stock No: 1HUNEA2011001 Pages: 58
US$18.00 (Academic Rate:
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