MNB brushes off criticism of real estate purchases
DO NOT USE, TOO SMALL
The National Bank of Hungary (MNB) on Wednesday said accusations made against it because of recent real estate purchases were "baseless" and "politically motivated". The MNB said the purchases had "produced public assets from public monies". It added that the purchases were in line with the practices of other central banks, citing retreats and recreational facilities owned by the central banks of Germany and Austria.
The MNB specifically mentioned criticism of its property purchases by Zoltán Bodnár, "politicking in the colors of the Hungarian Liberal Party" in a number of Hungarian media in the previous weeks. It noted that when Bodnár was an MNB deputy governor, between 1995 and 1998, the central bank had far more pieces of recreational real estate: 18 in all, including two in Croatia.
At present, the MNB owns four pieces of recreational real estate.
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