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Hungary Requests ‘Precautionary’ Financial Aid From IMF, EU

Hungary has requested possible “precautionary” financial assistance from the International Monetary Fund and the European Union to boost its ability to tap international markets.

The IMF and the European Commission have confirmed today that they received the request, the two institutions said in separate e-mailed statements. Hungary on Nov. 17 said it plans to start talks for a “new type” of cooperation after the forint fell to a record low against the euro.