Hungary Expects IMF Agreement by End-October, Reuters Reports

Hungary expects to sign an agreement with the International Monetary Fund and the European Union on a credit line of “close to” 15 billion euros ($19 billion) by the end of October at the latest, Reuters reported, citing Mihaly Varga, the country’s chief bailout negotiator.

An agreement may be completed “any time from mid-August until the end of October,” Varga told Reuters in an interview. The government is seeking a flexible credit line rather than a standby agreement from the Washington-based lender, Varga said, Reuters reported.

To contact the reporter on this story: Edith Balazs in Budapest at ebalazs1@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.