Orban says agreement with IMF “very close” – Bloomberg

Budapest, October 18 (MTI) – An agreement with the International Monetary Fund and the European Union is “very close,” Prime Minister Viktor Orban told Bloomberg in an interview published on Thursday.

Orban added that Hungary is seeking a precautionary credit line and does not need money from the IMF.


He said Hungary and the EU disagreed over the budget but added that it is “under control.”


Commenting on an element of the 367-bilion-forint additional fiscal adjustment announced by Economy Minister Gyorgy Matolcsy on Wednesday, he said the decision to backtrack on a pledge to cut the bank tax in half would not hurt the economy because lenders had already withdrawn financing from the country.


“Banks stopped lending already, the deleveraging project is going on in Hungary,” Orban said.


The full interveiw can be read at: http://www.bloomberg.com/news/2012-10-17/orban-cites-deleveraging-in-rebuff-of-hungary-bank-tax-criticism.html