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Intesa expects renegotiation of IMF pact

Intesa, the parent company of CIB Bank finds that the terms of the IMF rescue-loan agreement for Hungary will only be met through further austerity, requiring the new government elected at the April general elections to renegotiate the deficit clause with the Fund.

The 4Cast agency also believes that the gap will be bigger for 2010 than currently predicted by the government, its expert Gábor Ambrus anticipating the figure to come in at 5.5%.

At the same time, ING Groep NV is encouraging its clients to buy Hungarian state bonds because it predicts the next government will pursue a responsible fiscal policy which will stabilize the exchange rate of the forint. (Napi Gazdaság)