Hungary Starts Talks With IMF, EU |
|
November 18, 2011
BUDAPEST—Hungary's economy ministry Friday said that it has started formal talks with the International Monetary Fund and the European Union on securing some form of backing to reassure investors. The ministry said in a statement that it expects a new agreement to be concluded in the initial months of 2012, without disclosing details on the nature of the support it has requested from the IMF. The government would seek a deal with the IMF on an insurance contract to reassure investors and allow Hungary to raise the capital it needs, it said.
Hungary's economy ministry Friday said that it has started formal talks with the International Monetary Fund and the European Union on securing some form of backing to reassure investors.
The ministry said in a statement that it expects a new agreement to be concluded in the initial months of 2012, without disclosing details on the nature of the support it has requested from the IMF. The government would seek a deal with the IMF on an insurance contract to reassure investors and allow Hungary to raise the capital it needs, it said.
The ministry reiterated that the negotiations aren't for a loan, since the country will continue to finance itself from the markets and that it doesn't rely on "generosity."
Related Links
