Start of IMF/EU talks "a matter of checking diaries", Varga says

Conferences

Both the European Union and the European Central Bank are satisfied with the amendments of the central bank act passed by Parliament on Friday, and, since the International Monetary Fund holds the same opinion, "it is now only a matter of checking diaries" when the talks can begin, the government's chief negotiator for the IMF/EU talks on financial assistance Mihály Varga told MTI on Friday.

This could happen by the end of July and agreement could be reached by the end of October the latest, he said.

In a letter sent this week European Union commissioner for economic and monetary policy affairs Olli Rehn said that the European Commission has no objection to start negotiations once the central bank amendments were adopted, Varga said.

The ECB, which had reservations regarding the original amendments proposed by the government, said last week that the new amendments address most of its concern regarding central bank independence, Varga said.

Earlier last week, IMF managing director Christine Lagarde said that the Hungarian government's new amendments, together with the commitments on not appointing a third deputy central bank governor or a new Monetary Council member, fully satisfy the Fund's expectations, and once adopted by parliament, official negotiations on a financial assistance program can start.

ADVERTISEMENT

Purchasing Managers' Index rises Analysis

Purchasing Managers' Index rises

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.