Hungary’s new law conceals central bank use of money

EPA/TAMAS KOVACS

Governor of the National Bank of Hungary Gyorgy Matolcsy, has set up six educational foundations, granting them about $856m in 2014.

Hungary’s new law conceals central bank use of money


Hungary’s parliament on March 1 passed an amendment curbing public access to information on the use of money by central-bank affiliates and doubling the pay of the bank’s governor, who is reportedly a close ally of the prime minister.

As reported by The Wall Street Journal, the amendment to the Central Bank Act, by the governing-party dominated parliament, stipulates that money the bank allocates to its various educational foundations “loses its nature as public funds,” thus public access to ...


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