Jarai named next MNB head - Varga to replace him

Finance minister Zsigmond Jarai was nominated to succeed Gyorgy Suranyi as president of the National Bank of Hungary (MNB) last week, ending months of speculation. Suranyi's term ends on Feb. 28. The Budapest Business Journal reports.

Jarai will be replaced as finance minister by Mihaly Varga, currently political state secretary at the finance ministry. Prime Minister Viktor Orban announced his choices last Wednesday. The nominations were widely expected, and analysts said that due to the lack of

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