MNB to suspend controversial foundation
Ex-governor calls audit “smear campaign”; government blames ECB for not allowing closer surveillance
The Central Bank of Hungary (MNB) is in talks with the government to change its governing law, and thereby relinquish control over a controversial foundation it established in 2014.
Speaking at an event on April 15, the bank’s governor Mihály Varga said the MNB was looking to “cleanse the bank’s profile”, which would mean narrowing its activities to focus on monetary policy. He added that the activities of the MNB’s foundations would fall outside this focus.
Varga added that the MNB had reached a
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