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)