IMF to Open Permanent Office In Hungary

The International Monetary Fund (IMF) will open a permanent office in Budapest in April to make negotiations on Hungary's stand-by loan easier, the IMF press office said, confirming a report in daily Nepszabadsag on March 25.

The Third Meeting of Central and Eastern European Central Bank Governors Is Held in Budapest

On  March 20, the Magyar Nemzeti Bank (the Central Bank) hosted a working meeting of six Central European central bank governors in Budapest.

Hungary to Call down Second, EUR 2 Billion Installment of EU Credit Line, by End of March

Hungary will draw the second, EUR 2 billion portion of an EU credit line by the end of March, according to an online statement by the Finance Ministry on March 13th.

MNB Starts Converting EU Funds on the Forex Market

The MNB will convert this amount on the interbank foreign exchange market in a discretionary manner, during the year, as regular OTC transactions.

Central Bank to Throw in Full Arsenal to Fight Forint Devaluation

MNB urges market players to increasingly use the recently introduced forint and foreign currency liquidity instruments, and it will also make EU-resources available on the market.

Government to Allocate HUF 1,800 bn for Construction Investments

Hungary's government will allocate HUF 1,800 billion (EUR 6.24 billion), most of which will be derived from EU funding.

IMF Official Welcomed the Structural Reforms

An IMF official welcomed the structural reforms announced by the Hungarian Prime Minister on February 16th 2009.

OTP Bank Q4 Profit Plunges 97 Pct on Risk Provisions, Write-Offs

OTP Bank’s consolidated fourth-quarter after-tax profit plunged 96.7 pct to HUF 1.71 billion from the same period a year earlier.

EBRD Supports Banks in Hungary

 “The European Bank for Reconstruction and Development (EBRD) is planning to invest in Hungarian banks.

Government Makes HUF 140 billion in Current Assets Loans Available to SMEs

Some HUF 140 billion in current asset loans will be available to SMEs with the participation of five banks, National Development and Economy Minister Gordon Bajnai said on February 9th 2009.

News Monitoring