The FINANCIAL — The EBRD welcomes the international efforts to support the Hungarian economy to weather the current turbulent conditions in the international financial markets.
The programme which has now been agreed with the IMF provides a strong basis for confidence in the country’s financial framework. The Hungarian Government embarked on the path of fiscal consolidation in 2006 and has demonstrated its sustained commitment to it.
Under the current market conditions the EBRD is committed to working with all relevant parties to continue supporting a sound Hungarian financial sector. The Bank will, on a case by case basis, assess the financing and capital needs of its partners in the country and will work with them to strengthen balance sheets.
Since the start of its operations in Hungary in 1991 the EBRD has invested close to €2 billion in more than 100 projects in all sectors of the country’s economy. The Bank has been playing a major role in promoting and supporting Hungary’s transition to a market economy and remains fully committed to the country and the region.
