Wil Hongarije de steun van het IMF wel, of gaat Hongarije de Nationale bank leegplunderen als András Simor in maart vertrekt ?
András Simor was de directeur van de Nationale bank van Hongarije.
In de Nationale bank van Hongarije zit op dit moment € 35.467 Miljard Euro.......
According to information received from unofficial channels within Fidesz, there is a split between those who consider a loan an absolute necessity and those who think that Hungary will be able to survive until next March when András Simor, chairman of the Hungarian National Bank, will conclude his five-year term. Simor was nominated to his post by Ferenc Gyurcsány and thus, by definition, Viktor Orbán finds him objectionable. I think that this would be the case even if Simor were more willing to cooperate with the government on monetary policy.
But in March Orbán will at last have the opportunity to put his own man at the helm of the central bank, which might mean free access to the reserves of the Hungarian National Bank. At least this is what most analysts suspect is Orbán’s game plan.
I think we can safely conclude that Orbán is not in favor of starting negotiations with the IMF and has done everything in his power to slow the process..........
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In de Nationale bank van Hongarije zit op dit moment € 35.467 Miljard Euro.......
Hungary's international reserves stood at €35.467 billion at the end of March, dropping €430 million from a month earlier, preliminary data published by the National Bank of Hungary (MNB) on Friday show. The international reserves rose €1.586 billion from the end of December and were up €770 million from twelve months earlier.
In March, the reserves were reduced by the redemption of a JPY 50 billion bond on March 18 and by repayments on an International Monetary Fund loan the country took out in the autumn of 2008: a SDR 158 million installment paid by the central bank on March 25 and a SDR 263 million installment paid by the government on March 29.
The MNB announced on Thursday a plan to reduce the reserves by €3-4 billion, made possible by cutting the country's short-term external debt by HUF 1,000 billion, as part of the "Funding for Growth Scheme". Under the scheme, the MNB will provide interest-free refinancing to banks in order to boost cheap forint lending for SMEs.
The short-term external debt....
KLIK HIER om Hungary intl reserves drop €430 mln to €35.5 bln in March te lezen !!!
