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Hungary’s Orban Embraces Central Bank Chief to Save IMF Deal

Hungary’s Premier Viktor Orban retreated in his confrontation with central bank chief Andras Simor as he seeks to revive talks for an international bailout after a market rout this week. The currency and bonds gained even as the country received its third downgrade to junk.

“The president can count on the government’s support, including our backing for him personally,” Orban told reporters after meeting Simor today in Budapest. The government wants an IMF agreement “as soon as possible” and will do “everything” to support the central bank to stabilize the economy, he said.