IMF/EU talks can start after June 4 vote on cbank amendments, says ministry

Budapest, May 23 (MTI) – Hungarian parliament is scheduled to vote on amendments to its central bank laws on June 4, which, after they take legal effect, will pave the way for Hungary’s formal talks to begin with international lenders on aid, the economy ministry said on Wednesday.

In a statement sent to MTI the ministry said that the European Commission had decided on April 25 that talks can begin with Hungary on a standby financial package. This was a milestone for Hungary with a breakthrough reached after a meeting between Prime Minister Viktor Orban and European Commission President Jose Manuel Barroso, it added.


The EC had accepted Hungary’s answers to contentious issues concerning its central bank laws and the Hungarian government has pledged to implement change fast while continuing dialogue with the European Central Bank on these issues, the statement said, adding that the EC was of the opinion that the amended law would be in line with EU law. When Hungary approves all the changes it had undertaken, the Commission will stop the infringement procedures brought against Hungary, the statement said.