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Hungary Targets Early 2012 Safety-Net Deal With IMF and EU

Hungary requested help from the International Monetary Fund and the European Union to bolster investor confidence in the most indebted eastern member of the European Union that is one step away from junk grade status.

Hungary may reach an agreement with the groups “in the first months of next year,” the Economy Ministry said in an e-mail today. Hungary wants “insurance” from the IMF that doesn’t infringe on the country’s ability to formulate its economic policy, Premier Viktor Orban said on MR1 radio today.