The IMF has published its regular annual report on Hungary

The International Monetary Fund (IMF) has published on its home page their regular annual report on Hungary. According to Article 4 of its charter, the IMF shall prepare a review of every member country at least once a year.

In order to prepare the report, the IMF delegation stayed in Budapest between 9 and 21 November 2011. During the negotiations – where the representatives of the European Commission and the European Central Bank have also taken part as observers – the delegation met with the leaders and experts of the government, the National Bank of Hungary and the Hungarian Financial Supervisory Authority (PSZÁF) as well as certain representatives of the financial sector. The visit has included the semi-annual follow up monitoring process for the 2008 credit facility provided by the IMF.

The next monitoring review is due in the second quarter, while a consultation in accordance with Article 4 of the IMF charter is expected to take place in one year’s time.

The original final statement on the review prepared according to Article 4 of the IMF charter is available in English on the IMF home page at the below link:

http://www.imf.org/external/np/sec/pn/2012/pn1204.htm

http://www.imf.org/external/pubs/ft/scr/2012/cr1213.pdf