Hungary Says It Wants IMF Talks, Lender Has No Program Request
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Hungary said it started talks with the International Monetary Fund on a backstop that doesn’t include a loan. The Washington-based lender said it hasn’t received a request for negotiations on a Fund-supported program.
The Cabinet is seeking a “new type” of cooperation to bolster investor confidence and protect growth, the Economy Ministry said in an e-mail today. An IMF team is in Budapest conducting a regular Article IV review, which is “not a negotiating mission,” Iryna Ivaschenko, the lender’s representative to Hungary, said in an e-mail. The government spokesman’s office and the ministry declined to give details.