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

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. 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 also observed.

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Year of publication:	2009-03-30
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Announcements \| Budget deficits \| Economic indicators \| External sector \| Financial sector \| Fiscal sector \| Fiscal sustainability \| Performance criteria modifications \| Staff Reports \| Stand-by arrangement reviews \| inflation \| central bank \| external debt \| foreign currency \| financial stability \| external financing \| current account \| public debt \| debt sustainability \| current account deficit \| gdp deflator \| short-term debt \| foreign exchange \| government debt \| real interest rate \| public sector debt \| debt stock \| domestic currency \| nominal interest rate \| rate of inflation \| external debt sustainability \| current account balance \| monetary policy \| balance of payments \| external funding \| stock of debt \| fall in inflation \| inflation target \| total debt stock \| dollar value \| total external debt \| budget balance \| debt ratio \| debt dynamics \| average inflation \| reserve assets \| inflation rate \| debt management \| government deficit \| currency mismatch \| wage inflation \| official creditors \| debt restructuring \| foreign currency debt \| repayments \| central banks \| public finances \| inflation targeting \| foreign currency debts \| actual inflation \| external payments \| debt service \| rising inflation \| external debt obligations \| public debt management \| inflation targeting framework \| inflation objective \| currency debt \| private debt \| private sector debt \| balance of payment \| debt obligations \| external disbursements \| long-term debt \| balance sheet effects \| currency debts

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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 09/105 5 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011244967