165:
63:
22:
280:
327:
has affected the
Hungarian economy as well. As the crisis began to sweep through Eastern Europe, Poland and Romania failed to keep up with their credit repayments. Hungary was unable to respond to the external shocks adequately, and the country's creditworthiness and appeal to foreign investors began
336:
To prevent a financial collapse, the
Hungarian government reached out to the IMF in 1982, and after three days of reaching out, Hungary became the second Soviet- block member to join the fund. After receiving financial and structural assistance, Hungary's economy stabilized, however, due to high
360:
Despite the office closure, the IMF still provides interim country reports and remarks. According to the 2018 Article IV country report, Hungary is showing a 4% projected growth in GDP, a modest decline in national debt and a continuous yearly decrease of around 10% in its international debt.
298:(IMF). Hungary joined the IMF on May 6, 1982. Since joining, Hungary has requested and been approved to many IMF loans. Its quota as of 2018, is 1,940 million SDR. The country has had eight loan agreements with the IMF in the past, but most recently has received only
337:
domestic expenditures, and high external debts, Hungary was affected by the recession of the 1990s. High taxation and inefficiency in the public sector further damaged the
Hungarian economy, leading to a significant, 10% deficit in the 1993-1994
341:. Hungary began the consultation with the IMF to receive financial assistance, as well as guidance for structural reform. The government started the reform by devaluating the Hungarian currency, adjusting the policies in the public sector.
302:
and currently has no outstanding payments. The most recent Stand-by loan arrangement has been approved in 2008 to avoid a deepening of financial market pressures of the global financial crisis and was repaid ahead of schedule in 2013.
573:
361:
Hungary's current position is correlating with the desirable policies and fundamentals of the IMF. However, the
Article suggests the need for improvement in productivity and market competitiveness.
182:
35:
610:
450:
810:
815:
755:
349:
After completing the repayment of the most recent Stand-by agreement in 2013, Hungary has not requested any further arrangements from the Fund. Furthermore, following a set of
41:
785:
690:
640:
559:
855:
705:
595:
825:
790:
740:
670:
655:
590:
835:
800:
795:
770:
750:
725:
635:
615:
830:
820:
805:
775:
745:
735:
730:
695:
665:
650:
605:
600:
229:
127:
780:
765:
720:
710:
645:
620:
531:
201:
99:
700:
685:
630:
625:
760:
715:
680:
675:
208:
106:
323:
in 1968, along with other reforms had resulted in a relatively higher standard of living, as compared to other Soviet-bloc states. However, the
506:
319:. The country's GDP per capita was outperforming the neighboring states. The more liberal economy approach that has been introduced with the
215:
113:
566:
197:
95:
266:
248:
146:
49:
84:
77:
402:
378:
186:
222:
120:
860:
295:
175:
73:
299:
338:
320:
324:
426:
482:
458:
312:
551:
354:
350:
849:
316:
164:
62:
462:
427:"Press Release: Hungary Repays Early Its Outstanding Obligations to the IMF"
291:
279:
532:"IMF Executive Board Concludes Article IV Consultation with Hungary"
379:"Financial Position in the Fund for Hungary as of October 31, 2018"
278:
357:
has also asked for the closure of the IMF's office in
Budapest.
555:
158:
56:
15:
483:"Press Release: IMF Approves Stand-By Credit for Hungary"
451:"Hungary to Become Second Soviet-Bloc Nation to Join IMF"
311:
In late 1960s
Hungary's economy was often referred to as
507:"'No Longer Necessary': Hungary Wants to Throw Out IMF"
189:. Unsourced material may be challenged and removed.
567:
353:after his election, Hungary's prime minister
198:"Hungary and the International Monetary Fund"
96:"Hungary and the International Monetary Fund"
8:
288:Hungary and the International Monetary Fund
50:Learn how and when to remove these messages
574:
560:
552:
267:Learn how and when to remove this message
249:Learn how and when to remove this message
147:Learn how and when to remove this message
290:are the international relations between
370:
582:International Monetary Fund by country
83:Please improve this article by adding
856:International Monetary Fund relations
403:"Transactions with the Fund, Hungary"
7:
187:adding citations to reliable sources
14:
31:This article has multiple issues.
163:
61:
20:
174:needs additional citations for
39:or discuss these issues on the
1:
283:Location of Hungary in Europe
85:secondary or tertiary sources
296:International Monetary Fund
877:
587:
611:Bosnia and Herzegovina
321:New Economic Mechanism
313:"the happiest barrack"
284:
72:relies excessively on
351:controversial reforms
325:early 1980s recession
300:Stand-by arrangements
282:
183:improve this article
861:Economy of Hungary
285:
843:
842:
277:
276:
269:
259:
258:
251:
233:
157:
156:
149:
131:
54:
868:
756:Papua New Guinea
576:
569:
562:
553:
546:
545:
543:
542:
528:
522:
521:
519:
518:
503:
497:
496:
494:
493:
479:
473:
472:
470:
469:
447:
441:
440:
438:
437:
423:
417:
416:
414:
413:
399:
393:
392:
390:
389:
375:
272:
265:
254:
247:
243:
240:
234:
232:
191:
167:
159:
152:
145:
141:
138:
132:
130:
89:
65:
57:
46:
24:
23:
16:
876:
875:
871:
870:
869:
867:
866:
865:
846:
845:
844:
839:
583:
580:
550:
549:
540:
538:
530:
529:
525:
516:
514:
505:
504:
500:
491:
489:
481:
480:
476:
467:
465:
455:Washington Post
449:
448:
444:
435:
433:
425:
424:
420:
411:
409:
401:
400:
396:
387:
385:
377:
376:
372:
367:
347:
334:
309:
273:
262:
261:
260:
255:
244:
238:
235:
192:
190:
180:
168:
153:
142:
136:
133:
90:
88:
82:
78:primary sources
66:
25:
21:
12:
11:
5:
874:
872:
864:
863:
858:
848:
847:
841:
840:
838:
833:
828:
823:
818:
813:
811:United Kingdom
808:
803:
798:
793:
788:
783:
778:
773:
768:
763:
758:
753:
748:
743:
738:
733:
728:
723:
718:
713:
708:
703:
698:
693:
688:
683:
678:
673:
668:
663:
658:
653:
648:
643:
638:
633:
628:
623:
618:
613:
608:
603:
598:
593:
588:
585:
584:
581:
579:
578:
571:
564:
556:
548:
547:
523:
511:Spiegel Online
498:
474:
457:. 1982-05-05.
442:
418:
394:
369:
368:
366:
363:
346:
343:
333:
330:
308:
305:
275:
274:
257:
256:
171:
169:
162:
155:
154:
69:
67:
60:
55:
29:
28:
26:
19:
13:
10:
9:
6:
4:
3:
2:
873:
862:
859:
857:
854:
853:
851:
837:
834:
832:
829:
827:
824:
822:
819:
817:
816:United States
814:
812:
809:
807:
804:
802:
799:
797:
794:
792:
789:
787:
784:
782:
779:
777:
774:
772:
769:
767:
764:
762:
759:
757:
754:
752:
749:
747:
744:
742:
739:
737:
734:
732:
729:
727:
724:
722:
719:
717:
714:
712:
709:
707:
704:
702:
699:
697:
694:
692:
689:
687:
684:
682:
679:
677:
674:
672:
669:
667:
664:
662:
659:
657:
654:
652:
649:
647:
644:
642:
639:
637:
634:
632:
629:
627:
624:
622:
619:
617:
614:
612:
609:
607:
604:
602:
599:
597:
594:
592:
589:
586:
577:
572:
570:
565:
563:
558:
557:
554:
537:
533:
527:
524:
512:
508:
502:
499:
488:
484:
478:
475:
464:
460:
456:
452:
446:
443:
432:
428:
422:
419:
408:
404:
398:
395:
384:
380:
374:
371:
364:
362:
358:
356:
352:
345:2000s-Present
344:
342:
340:
331:
329:
326:
322:
318:
314:
306:
304:
301:
297:
293:
289:
281:
271:
268:
253:
250:
242:
231:
228:
224:
221:
217:
214:
210:
207:
203:
200: –
199:
195:
194:Find sources:
188:
184:
178:
177:
172:This article
170:
166:
161:
160:
151:
148:
140:
129:
126:
122:
119:
115:
112:
108:
105:
101:
98: –
97:
93:
92:Find sources:
86:
80:
79:
75:
70:This article
68:
64:
59:
58:
53:
51:
44:
43:
38:
37:
32:
27:
18:
17:
660:
539:. Retrieved
535:
526:
515:. Retrieved
513:. 2013-07-15
510:
501:
490:. Retrieved
486:
477:
466:. Retrieved
454:
445:
434:. Retrieved
430:
421:
410:. Retrieved
406:
397:
386:. Retrieved
382:
373:
359:
355:Viktor Orbán
348:
335:
317:Eastern Bloc
310:
287:
286:
263:
245:
239:January 2019
236:
226:
219:
212:
205:
193:
181:Please help
176:verification
173:
143:
137:January 2019
134:
124:
117:
110:
103:
91:
71:
47:
40:
34:
33:Please help
30:
786:South Korea
691:Ivory Coast
641:El Salvador
407:www.imf.org
383:www.imf.org
332:1980s-2000s
328:to worsen.
315:within the
307:1960s-1980s
850:Categories
706:Kazakhstan
596:Azerbaijan
541:2018-12-11
517:2018-12-12
492:2018-12-04
468:2018-11-26
436:2018-12-11
412:2018-11-26
388:2018-11-25
365:References
209:newspapers
107:newspapers
74:references
36:improve it
826:Venezuela
791:Sri Lanka
741:Nicaragua
671:Indonesia
656:Guatemala
591:Argentina
463:0190-8286
42:talk page
836:Zimbabwe
801:Thailand
796:Tanzania
771:Portugal
751:Pakistan
726:Mongolia
636:Djibouti
616:Cambodia
294:and the
831:Vietnam
821:Uruguay
806:Ukraine
776:Romania
746:Nigeria
736:Myanmar
731:Morocco
696:Jamaica
666:Iceland
661:Hungary
651:Grenada
606:Bolivia
601:Belarus
292:Hungary
223:scholar
121:scholar
781:Serbia
766:Poland
721:Mexico
711:Malawi
646:Greece
621:Canada
461:
225:
218:
211:
204:
196:
123:
116:
109:
102:
94:
701:Japan
686:Italy
631:China
626:Chile
230:JSTOR
216:books
128:JSTOR
114:books
761:Peru
716:Mali
681:Iraq
676:Iran
459:ISSN
202:news
100:news
536:IMF
487:IMF
431:IMF
339:GDP
185:by
76:to
852::
534:.
509:.
485:.
453:.
429:.
405:.
381:.
87:.
45:.
575:e
568:t
561:v
544:.
520:.
495:.
471:.
439:.
415:.
391:.
270:)
264:(
252:)
246:(
241:)
237:(
227:·
220:·
213:·
206:·
179:.
150:)
144:(
139:)
135:(
125:·
118:·
111:·
104:·
81:.
52:)
48:(
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
