IMF talks with Hungary to start on July 17
Negotiators from the International Monetary Fund, European Union and European Central Bank are to arrive on Tuesday to begin talks over Hungary’s second multi-billion-euro bailout, a local IMF official has said. After eight months of toing and froing, Hungary’s Parliament removed the final obstacle to the start of official negotiations when lawmakers pushed through amendments to a new central bank law last Friday. The troika of international institutions had seen the original legislation as a threat to the independence of the Hungarian National Bank.
The National Economy Ministry announced back in November that it wanted a new deal with the IMF, effectively ending Prime Minister Viktor Orbán’s “battle” for financial autonomy.
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(Photo: Andras Deak/sxc.hu)