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Hungary Expects IMF Agreement by End-October, Reuters Reports

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June 28 (Bloomberg) -- 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

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