Hungary; Fifth Review Under the Stand-By Arrangement, and Request for Modification of Performance Criterion

This paper discusses key findings of the Fifth Review Under the Stand-By Arrangement for Hungary. All end-December 2009 quantitative performance criteria, the continuous performance criterion on nonaccumulation of external arrears, and the indicative target on central government debt were met. The structural benchmarks on government lending to banks, passage by parliament of amendments strengthening the remedial powers of the Hungarian Financial Supervisory Authority (HFSA), and submission of amendments strengthening the bank resolution framework were also met. Further strengthening of policies is required to ensure macroeconomic stability and growth over the medium term.

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Year of publication:	2010-03-26
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Announcements \| Bank resolution \| Bank supervision \| Banking sector \| Economic growth \| Economic indicators \| Fiscal reforms \| Liquidity management \| Performance criteria modifications \| Staff Reports \| Stand-by arrangement reviews \| external debt \| central bank \| international reserves \| current account \| bond \| external financing \| debt stock \| financial stability \| bonds \| domestic currency \| government deficit \| short-term debt \| public debt \| financial sector \| stock of debt \| government bond \| debt sustainability \| government debt \| balance of payments \| financial institutions \| mortgage bond \| public sector debt \| financial market \| current account balance \| financial corporations \| debt management \| government bonds \| nominal interest rate \| external debt sustainability \| total debt stock \| mortgage bonds \| debt management agency \| portfolio investment \| liquidity support \| financial system \| current account deficit \| total external debt \| bond markets \| money market \| financial vulnerabilities \| financial intermediaries \| money market instruments \| financial derivatives \| government bond yield \| bond issues \| bond yield \| bond market \| debt ratio \| debt dynamics \| public finance \| domestic financial institutions \| mortgage bond market \| bond yields \| bond portfolio \| domestic-currency \| current account surplus \| sovereign debt \| foreign currency debt \| reserve assets \| payment arrears \| nominal exchange rate \| government bond portfolio \| official creditors \| budget balance \| public finances \| financial assets \| effective interest rate \| international financial statistics \| bond issuance \| stock market \| global bonds \| currency debt \| stock market index \| nominal depreciation \| deposit rates \| current account adjustment \| external disbursements \| external funding \| public debt management \| long-term debt \| government bond markets \| balance of payment \| reserve requirements \| bond issuances \| bond redemptions \| financial regulation \| financial markets \| external payments \| government bond yields

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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 10/80 6 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://ebvufind01.dmz1.zbw.eu/10011245397