Hungary Rejects IMF Aid Conditions, Premier Orban Says
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Hungary rejects conditions set by the International Monetary Fund for a loan, Prime Minister Viktor Orban said, prompting a plunge in the forint that has been buttressed by confidence an agreement would be reached.
The Washington-based lender asked Hungary to cut pensions and scrap a bank tax in exchange for the loan, which wouldn’t serve the nation’s interests, Orban said in a video message posted on his page at the social media website Facebook Inc. Orban said he would seek an “alternative negotiating proposal,” without elaborating. The IMF’s Budapest office declined to comment.