Economy
Hungary chief aid negotiator still believes talks with IMF/EU will resume in Sept
“The Hungarian negotiating mission continues to expect that the parties will stick to the schedule determined earlier and the talks will continue in September," Varga’s office said in a statement.
IMF External Relations Director Gerry Rice told a press conference in Washington last Thursday that the IMF has not yet set a data when the negotiations with Hungary continue on a financial assistance programme.
"We do not have a date for the next visit to Budapest. We are in touch with the Hungarian authorities and with our European partners on those issues that were discussed in July," he said.
According to press reports the IMF/EU missions left Budapest a letter listing tough conditions when they left in July. The government should respond to these issues before the talks could resume.
Hungary’s National Economy Ministry expects the financial assistance programme with the IMF/EU to be secured by mid-November, or the country will not be able to save as much on interest expenditures as the 2013 budget bill envisages.
Meanwhile, some analysts find it possible that the talks with the lenders will break down.
“The supportive global risk environment has dominated local bond markets in previous weeks, disregarding the worrying fiscal and political news that points towards no progress in the IMF/EU loan talks in the absence of market pressure in the short term," another analyst said today.
IMF External Relations Director Gerry Rice told a press conference in Washington last Thursday that the IMF has not yet set a data when the negotiations with Hungary continue on a financial assistance programme.
"We do not have a date for the next visit to Budapest. We are in touch with the Hungarian authorities and with our European partners on those issues that were discussed in July," he said.
According to press reports the IMF/EU missions left Budapest a letter listing tough conditions when they left in July. The government should respond to these issues before the talks could resume.
Hungary’s National Economy Ministry expects the financial assistance programme with the IMF/EU to be secured by mid-November, or the country will not be able to save as much on interest expenditures as the 2013 budget bill envisages.
Meanwhile, some analysts find it possible that the talks with the lenders will break down.
“The supportive global risk environment has dominated local bond markets in previous weeks, disregarding the worrying fiscal and political news that points towards no progress in the IMF/EU loan talks in the absence of market pressure in the short term," another analyst said today.
