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

IMF Staff Country Reports, March 30, 2009

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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

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Bibliographic details

• Authors: Arrangement, Request
• Published: March 30, 2009
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781451818130.002

Key findings from the First Review

• 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:
  • passage of the fiscal responsibility law, and
  • submission to parliament of amendments granting the Hungarian Financial Supervision Agency (HFSA) special remedial powers

were observed.

Thematic coverage and subject areas

• 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

Content in this bundle

• Macro-Financial Vulnerabilities
  • Macro-Financial Vulnerabilities (Markdown version)
  • Macro-Financial Vulnerabilities (PDF)