Hungarian currency and shares plunge

Article reports that Hungary was plunged into financial uncertainty on the 15 October 2008 with its currency and stock market falling sharply and bankers reporting credit shortages, as concern spread across eastern Europe about the impact of the global financial crisis.

Meanwhile, an IMF delegation was due to arrive in Ukraine on the same day. Officials in Kiev said they were seeking to shore up confidence in their under-pressure economy.

ECB: Press Release, 16.10.08: Magyar Nemzeti Bank and European Central Bank cooperation to support the MNB’s Euro Liquidity Providing Instruments http://www.ecb.int/press/pr/date/2008/html/pr081016.en.html

MNB: Overall assessment to the Report on Financial Stability (October 2008, Update) http://english.mnb.hu/Engine.aspx?page=mnben_stabil&ContentID=11582

Website: Magyar Nemzeti Bank http://english.mnb.hu/Engine.aspx

IMF: Country Report: Hungary and the IMF http://www.imf.org/external/country/HUN/index.htm

IMF: Ukraine and the IMF http://www.imf.org/external/country/UKR/index.htm

Deutsche Welle, 15.10.08: Ukraine Seeks Support From IMF http://www.dw-world.de/dw/article/0,2144,3713056,00.html

---