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Hungary: First Post-Program Monitoring Discussions
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2011: Issue 137
Language:
English
Publication Date:
15 Jun 2011
DOI:
https://doi.org/10.5089/9781455279555.002
ISBN:
9781455279555
ISSN:
1934-7685
Pages:
49
Keywords:
ISCR; CR; discussion; demand data; demand; estimate; staff appraisal; FX reserve; core price; market condition; Loans; Global; Eastern Europe; Europe
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The economic development of Hungary after the economic crisis is discussed. Hungary’s economic program supported by Stand-By Arrangement has been successful in strengthening the economy and stabilizing market conditions. Given Hungary’s high public debt and large financing needs, Executive Directors emphasized the need for full and timely implementation of consolidation measures. Directors also recognized the positive collaboration between the European Union and the IMF during the program period. Furthermore, the foreclosure moratorium continues to prevent banks from cleaning balance sheets.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund