Are you sure?

FM says government in talks with IMF regarding modification of loan call-down deadlines

The government is negotiating with the International Monetary Fund (IMF) regarding the possibility of revising the currently stipulated deadlines for Hungary to call down future tranches of its joint IMF-EU-World Bank standby loan, Finance Minister Peter Oszkó said on a television program on Tuesday evening.

Oszkó said that the government has proposed to the IMF that a subsequent government may call down tranches of the IMF, noting that the recent improvement of the Hungary's economy has made this scenario possible.

The finance minister commented that the government expects its 2010 revenue to decrease by HUF 1,000 billion compared to the target in the 2009 budgetary law, adding that the government's revenue will drop by several hundred billion forints this year. Oszkó cautioned that it would be wrong to create the illusion that the global economic crisis will not continue to affect Hungary next year as well. (MTI-Econews)