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

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  • International Monetary Fund

Abstract

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.

Suggested Citation

  • International Monetary Fund, 2009. "Hungary: Stand-By Arrangement: Interim Review Under the Emergency Financing Mechanism," IMF Staff Country Reports 2009/021, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2009/021
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=22641
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    Cited by:

    1. Jan HANOUSEK & Evžen KOČENDA, 2009. "Public investment and growth in New EU member states: an overview," Departmental Working Papers 2009-23, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.

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