Hungary; 2008 Article IV Consultation: Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion

The Article IV Consultation highlights the financial system risks that have increased reflecting both the global financial market turbulence and continued rapid credit growth in Hungary. With most new borrowing in foreign currency, the private sectorâ€™s net foreign currency liabilities increased. Monetary policy has been appropriately tightened, and the elimination of the exchange rate band has removed a potential conflict between monetary policy objectives. Executive Directors called for enhanced collaboration with foreign supervisory authorities given Hungarian banksâ€™ close links with financial institutions abroad.

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Year of publication:	2008-09-24
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Article IV consultation reports \| Staff Reports \| Economic indicators \| Fiscal consolidation \| Risk management \| Financial stability \| Current account deficits \| Liquidity management \| current account \| government debt \| current account deficit \| fiscal rules \| fiscal deficit \| current account balance \| central bank \| external debt \| public debt \| tax burden \| fiscal framework \| balance of payments \| external financing \| fiscal rule \| tax administration \| fiscal policy \| external funding \| debt service \| external liability \| account deficits \| net external liability \| fiscal balance \| government spending \| capital expenditures \| short-term debt \| public finances \| net external liabilities \| fiscal adjustment \| debt management agency \| external liabilities \| tax revenues \| fiscal discipline \| debt management \| structural fiscal \| government deficit \| fiscal deficit target \| net debt \| fiscal risk \| fiscal responsibility \| central banks \| capital expenditure \| tax base \| debt relief \| tax evasion \| aggregate demand \| net external debt \| fiscal responsibility law \| fiscal policies \| fiscal savings \| spending cuts \| currency risk \| fiscal deficits

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 08/313 4 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011244414