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FinMin says: IMF happy with Convergence Plan

The International Monetary Fund did not raise any concerns about the Hungarian convergence program at the autumn session of IMF and the World Bank, Finance Minister János Veres said after the plenary session of the three-day meeting.

The International Monetary Fund did not raise any concerns about the Hungarian convergence program at the autumn session of IMF and the World Bank, Finance Minister János Veres said after the plenary session of the three-day meeting. According to American experts, the problems of the mortgage loan market in the USA will have no effect on the processes in Hungary, he added. To the question as to whether Hungary could utilize the acceleration of the global and European economy; Veres answered with a definite yes. The increase in the volume of Hungarian exports is above 10%; the slower GDP-growth is due to the declined state demand that was financed from loans earlier, he added. (MH)