Hungary Not Drawing Scheduled IMF Loan Tranche

Alina Vasiescu (Tradus de Andrei Năstase)
Ziarul BURSA #English Section / 18 noiembrie 2009

Hungary will not draw the next tranche of the stand-by loan agreement with the International Monetary Fund (IMF) and will postpone taking financial assistance offered by the European Union, according to an announcement by Hungarian Finance Minister Peter Oszko.

Seriously affected by the global financial crisis, Hungary contracted a total of 20 billion EUR (25.1 billion USD) in loans from the IMF, the World Bank and the European Union. The country has already drawn 8.34 billion EUR (12.5 billion USD) from the 11.5 billion EUR contracted with the IMF and 5.5 billion EUR from the 6.5 billion EUR contracted with the European Union. The funds helped stabilize the economy, but the cost was severe, forcing Prime Minister Gordon Bajnai to turn to an austerity plan.

"Hungary has achieved good progress in containing public spending through numerous measures, which have supported the strong adjustment of the external imbalance, increased investor confidence, and contributed to a substantially improved access to market financing," said European Commissioner for Economic and Monetary Policy Joaquin Almunia.

According to the Country Report, Hungary"s GDP plunged 7.5 per cent in the second quarter of 2009 compared to the year-earlier period and is expected to close the year with a 6.7 per cent year-on-year decline. The Hungarian economy is currently expected to recede 0.6 per cent in 2010, as opposed to the previously estimated 0.9 per cent decline.

Cotaţii Internaţionale

vezi aici mai multe cotaţii

Bursa Construcţiilor

www.constructiibursa.ro

Comanda carte
Conferinţa BURSA “Codul Insolvenţei 2025”
danescu.ro
arsc.ro
Stiri Locale

Curs valutar BNR

28 Mar. 2025
Euro (EUR)Euro4.9773
Dolar SUA (USD)Dolar SUA4.6187
Franc elveţian (CHF)Franc elveţian5.2332
Liră sterlină (GBP)Liră sterlină5.9795
Gram de aur (XAU)Gram de aur456.5018

convertor valutar

»=
?

mai multe cotaţii valutare

Cotaţii Emitenţi BVB
Cotaţii fonduri mutuale
Teatrul Național I. L. Caragiale Bucuresti
energyexpo.ro
thediplomat.ro
Studiul 'Imperiul Roman subjugă Împărăţia lui Dumnezeu'
The study 'The Roman Empire subjugates the Kingdom of God'
BURSA
BURSA
Împărăţia lui Dumnezeu pe Pământ
The Kingdom of God on Earth
Carte - Golden calf - the meaning of interest rate
Carte - The crisis solution terminus a quo
www.agerpres.ro
www.dreptonline.ro
www.hipo.ro

adb