Hungary talks with IMF-EU could start


Hungary can start talks on precautionary financial assistance it is seeking from the International Monetary Fund and the European Union "within weeks", National Economy Ministry state secretary Gyula Pleschinger said on Wednesday, Reuters reported.

"Based on informal responses, we can say that the (aid) talks can start once Hungary implements the proposed changes into law, I think this can happen within weeks," Reuters quoted Pleschinger as saying.

He said the talks could start after the Central Bank Act is amended, as agreed on with the European Union.

The Commission said earlier on Wednesday that Hungary had taken "sufficient action and commitments" to start negotiations on in the financial assistance.

Pleschinger said that the government had also agreed not to expand the central bank's rate-setting Monetary Council and appoint a third deputy governor during the tenure of Governor András Simor, which expires early next year.

He added that talks on the financial assistance could wind up quickly with an agreement as the sides were not far apart from one another over "substance" in economic policy.

He said Hungary would not take a decision on any forex debt issue until after the start of the talks, taking into consideration market sentiment.


Purchasing Managers' Index rises Analysis

Purchasing Managers' Index rises

Fidesz re-elects Orbán head of party Elections

Fidesz re-elects Orbán head of party

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


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.