Govt seeks speedy agreement with IMF-EU on financial assistance, says Fellegi - paper

History

It is the Hungarian government’s express intent to quickly reach an agreement on a financial assistance package with the International Monetary Fund and the European Union, minister without portfolio in charge of the talks Tamas Fellegi said in an interview in the fresh issue of weekly Figyelo.

Mr Fellegi said the government does not want to drag out the talks. He added that he would travel to Brussels for negotiations after holding talks with the IMF in Washington at the beginning of next week.

Mr Fellegi said he was seeking support from representatives of the German, Austrian and French governments for a speedy agreement with the EU.

He said the government was coming to the table without any pre-conditions and was open to accepting the recommendations of the international organisations.

Mr Fellegi said he expected to reach a compromise between a precautionary credit line, which the government wants, and the Stand-By Arrangement offered by the IMF.

The EU and IMF delegations expect they could get a mandate for negotiations already in January.

Mr Fellegi confirmed that the government wants to continue to finance the country’s debt on the market, even if the IMF and EU assistance carries more favourable conditions.

The minister said he expected the agreement with the IMF to be easier but the agreement with the EU to be more complicated.

ADVERTISEMENT

Industries lose billions on counterfeit products Analysis

Industries lose billions on counterfeit products

Parl't to vote on groundwork for commercial accommodation ra... Parliament

Parl't to vote on groundwork for commercial accommodation ra...

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest re-launches airport shuttle bus City

Budapest re-launches airport shuttle bus

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.