Institutions hand a Hungary $25.1bn get-out-of-jail card

1 November 2008

The IMF said it was ready to lend Hungary $15.7bn (€12.5bn) under the terms of a 17-month standby arrangement.

The EU is also on standby to provide a loan of €6.5bn ($8.1bn) to the country, and the World Bank has already agreed to provide €1bn ($1.3bn).

The IMF has said that it is ready to help emerging markets during the current global financial turmoil and has more than $200bn of funds to draw on.

The IMF also has tentative loan agreements in place with Iceland and Ukraine.

Sweden proposes deal to stabilise its financial system

On October 20 the Swedish government proposed a stability plan aimed at restoring confidence in the country's financial system.

The aim of the proposal is to ease the liquidity and funding pressures that are weighing on Swedish banks. The plan includes:

The possible capital injection of preference shares, provided the banks in questions are deemed important to the Swedish financial system as a whole.

The plan is subject to a review by the country's Council on Legislation and approval by the Riksdag.

Source:

Lending Strategy

If you enjoyed this article, sign up here to receive daily email updates from Mortgage Strategy and Follow @mortgagestrat

Have your say

Please do not complete the following form field for security reasons.

Name

E-mail

Comment

Post as

Anonymously

Display name

I have read and agree to the terms and conditions

• Email
• Share
• Comment
• Save