Matolcsy: This time the IMF is also different

English2020. júl. 8.GOVERNOR MATOLCSY100WORDS

This recession is really the largest the IMF has faced in its 76-year history and certain constraints make the Fund a big fire engine with an obstructed hose as Ricardo Hausmann put it rightly /FT, 19 June 2020/.

Indeed, the IMF responded quickly and massively to the crisis.

By contrast, the EU is still at a stalemate, so this time the IMF proved to be different, changed and reformed for the better.

It is a pity, that some EU countries are among the most conservative voices on the IMF’s board. They too need to change their position in order to give a concerted and carefully crafted response to the global downturn.

Governor Matolcsy, MNB, the Central Bank of Hungary

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