{
  "title": "Hungary: First Review Under the Stand-By Arrangement and Request for Modification of Performance Criteria: Staff Report; Staff Statement; and Press Release on the Executive Board Discussion",
  "publication": "IMF Staff Country Reports, March 30, 2009",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/hungary-first-review-under-the-stand-by-arrangement-and-request-for-modification-of-22839",
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  "summary": "This paper discusses key findings of the First Review for Hungary under the Stand-By Arrangement. All end-December 2008 quantitative performance criteria and the continuous performance criterion on nonaccumulation of external arrears were met.",
  "sections": [
    {
      "heading": "Key findings from the First Review",
      "content": "- All end-December 2008 quantitative performance criteria were met.\n- The continuous performance criterion on nonaccumulation of external arrears was met.\n- The structural performance criterion on submission to parliament of a draft support package for domestic banks by November 10, 2008, was observed.\n- The end-December 2008 structural benchmarks of:\n  - passage of the fiscal responsibility law, and\n  - submission to parliament of amendments granting the Hungarian Financial Supervision Agency (HFSA) special remedial powers\n  were observed."
    },
    {
      "heading": "Thematic coverage and subject areas",
      "content": "- Subject: Banking, Currencies, External debt, Financial institutions, Fiscal stance, Inflation, Loans, Money, Prices, Public debt\n- Keywords: CDS spread, CR, Currencies, financial market condition, Global, holdings of SDR, Hungarian forint, Inflation, ISCR, Loans, output data, policy implementation, staff appraisal\n\n---\n\n Content in this bundle\n\n- Macro-Financial Vulnerabilities\n  - Macro-Financial Vulnerabilities (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Macro-Financial Vulnerabilities (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Authors: Arrangement, Request",
    "Published: March 30, 2009",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451818130.002",
    "All end-December 2008 quantitative performance criteria were met.",
    "The continuous performance criterion on nonaccumulation of external arrears was met.",
    "The structural performance criterion on submission to parliament of a draft support package for domestic banks by November 10, 2008, was observed.",
    "The end-December 2008 structural benchmarks of:",
    "Subject: Banking, Currencies, External debt, Financial institutions, Fiscal stance, Inflation, Loans, Money, Prices, Public debt",
    "Keywords: CDS spread, CR, Currencies, financial market condition, Global, holdings of SDR, Hungarian forint, Inflation, ISCR, Loans, output data, policy implementation, staff appraisal",
    "**Macro-Financial Vulnerabilities**"
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