IMF Staff Country Reports

Hungary : Fourth Review Under the Stand-By Arrangement, and Request for Modification of Performance Criteria

Author/Editor:

International Monetary Fund

Publication Date:

December 22, 2009

Electronic Access:

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Summary:

This paper discusses key findings of the Fourth Review Under the Stand-By Arrangement for Hungary. All end-September 2009 quantitative performance criteria, the continuous performance criterion on nonaccumulation of external arrears, the indicative target on central government debt, as well as the continuous structural benchmark related to government lending to banks were met. Inflation in September breached the lower inner band of the inflation consultation mechanism. The structural benchmark on submission of legislation on strengthening the institutional framework for bank supervision was met with only a minor delay.

Series:

Country Report No. 09/330

Subject:

Announcements Bank reforms Bank resolution Bank supervision Banking sector Economic growth Economic indicators Fiscal policy Foreign exchange Hungary Inflation targeting Monetary policy Performance criteria modifications Staff Reports Stand-by arrangement reviews