Hungary's PM Orban: IMF Story Is Over
- 5 Feb 2013 8:00 AM
The story of an IMF-EU loan is drawing to a close, Prime Minister Viktor Orban said last week in Brussels. In a group discussion following his lecture at the Bruegel institute, Orban recalled that Hungary had asked for a flexible credit line, but the IMF ultimately said “no”.
The IMF instead wanted to discuss a standby loan deal, which entails stricter conditions.
“The door is still open, but there is less and less chance of reaching an agreement,” Orban said.
“We do not need a loan, we want to finance ourselves from the markets,” he added.
Poland has been granted a flexible credit line from the IMF, but Bruegel Institute research fellow Andre Sapir told Orban that Hungary is far from being as financially stable as Poland.
Orban announced that Hungary will issue a foreign currency bond on international markets in early February.
A related road show is already underway in the US and UK.
Source: Hungary Around the Clock
This news item is one of many published daily by HATC, a premier subscription news service which distributes English-language info about Hungary via email or fax. For a free trial of HATC follow this link and click on 'Free Trial Subscription'.
LATEST NEWS IN current affairs