Hungary to Start IMF Talks ‘Soon,’ OTP’s Csanyi Tells Reuters

Hungary will probably “soon” start talks on a bailout with the International Monetary Fund and the European Union, Reuters reported, citing Sandor Csanyi, chief executive officer of OTP Bank Nyrt. (OTP), the country’s biggest lender.

An agreement on a credit line, which will probably take three to four months to reach once the negotiations start, may cut Hungary’s cost of insuring government debt against default by “at least” 150 to 200 basis points, Csanyi was cited as saying in an interview with Reuters.

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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