IMF’s Ivaschenko Says Hungary Needs ‘More Balanced’ Measures

Iryna Ivaschenko, the International Monetary Fund’s representative in Hungary, comments on the Washington-based lender’s proposals for the country’s government.

She commented in an e-mailed reply to questions from Bloomberg yesterday.

On whether Hungary needs to enact more austerity measures:

“We are not looking for more fiscal adjustment beyond what the government is already planning, there is no more austerity in our proposals. But we think the adjustment can be achieved with more balanced measures, and more generally, we are looking for policies that can boost growth.”

On whether the IMF will discuss with Hungary a credit line more flexible than a Stand-by Agreement:

“Our Stand-by Arrangements could be treated as precautionary by the government.”

To contact the reporter on this story: Zoltan Simon in Budapest at zsimon@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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