"We’ll all be interested to see what the European Commission has to say when it publishes its fall economic forecast on November 7th. But while we’re on the topic, let’s put some basic facts on the table about the IMF and Hungary.
The mission of the IMF is to support international financial stability. It is accountable to the Fund’s 188 countries that pay into the Fund as members. The member countries are much like shareholders in the organization, each member carrying a weight proportional to the number of quota shares it has. The Government of Hungary, on the other hand, is accountable to the citizens of Hungary. It came into power in 2010 after a landslide victory at the polls, elected on a mandate for change and reform following a long period of economic and social stagnation. (...)