IMF Staff Country Reports

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

January 23, 2009

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Hungary: Stand-By Arrangement: Interim Review Under the Emergency Financing Mechanism, (USA: International Monetary Fund, 2009) accessed November 23, 2024

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.

Subject: Banking, Bond yields, Budget planning and preparation, Central bank policy rate, Economic growth, Economic recession, Exchange rates, Financial institutions, Foreign exchange, Public financial management (PFM), Sovereign bonds

Keywords: A. financial markets, Bond yield, Bond yields, Budget planning and preparation, CR, Depreciation in October, Economic recession, Evolution of the markets' risk assessment, Evolution of the markets' risk assessment of Hungary, Exchange rate depreciation, Exchange rates, Exchange regime, Financial market development, Global, Government bond bond yield, Home market, ISCR, Market, Rate, Sovereign bonds, Support law, Support package

Publication Details

  • Pages:

    13

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2009/021

  • Stock No:

    1HUNEA2009001

  • ISBN:

    9781451818123

  • ISSN:

    1934-7685