Hungary’s government is starting negotiations on a new type of cooperation with the International Monetary Fund (IMF) in the course of scheduled consultations, the economy ministry told MTI on Thursday. In order to secure economic growth, Hungary primarily needs to protect its independence, its ability to finance itself from the markets. This is being made difficult by a protracted crisis in the euro zone, the ministry said in a statement.
Update: Via the external affairs office of the IMF:
The Resident Representative of the International Monetary Fund (IMF) to Hungary, Ms. Iryna Ivaschenko, today issued the following statement:
“The IMF team currently in Budapest is conducting a regular Article IV review and the second review under Post-Program monitoring of the Hungarian economy. The mission for the Article IV consultation is not a negotiating mission, but a mission to conduct the regular economic surveillance that the IMF performs for all member countries. The IMF has not received a request from the authorities to initiate negotiations on a Fund-supported program.”