IMF delegation due to visit Hungary for monitoring in Q2, ministry says


An International Monetary Fund (IMF) delegation could visit Hungary in the second quarter to conduct biannual monitoring connected with Hungary’s 2008 loan, while the consultation pursuant to Article IV of the IMF’s Articles of Agreement is expected to take place in a year, the Ministry of National Economy (NGM) said after the IMF published its annual country report on Hungary on Wednesday.

The ministry notes that under Article IV, the IMF prepares economic policy reports on every member state at least once a year.

In order to prepare the report, a delegation of the IMF stayed in Budapest between November 9-21, 2011. During the talks - attended by representatives of the European Commission and the European Central Bank as observers - they met with government leaders and specialists, officials from the National Bank of Hungary and the Hungarian Financial Supervisory Authority (PSZAF) as well as financial market players, the statement said.

Six-monthly post-program monitoring related to the 2008 loan constituted part of the visit.


European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Chain Bridge to be closed for traffic for 18 months City

Chain Bridge to be closed for traffic for 18 months


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.