‘Matolcsy to get rid of International Monetary Fund’

Published on 16 July 2013 at 10:06

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Hungarian National Bank (MNB) governer György Matolcsy has announced the early reimbursement of Hungary’s loan from the International Monetary Fund (IMF) and demanded that the lendor close its office in Budapest.
As Népszava explains, Hungary received €15bn from the IMF in 2008, within the framework of a €20bn aid programme undertaken in collaboration with the EU and the World Bank. It will now reimburse the final tranche of €2.2bn this year, ahead of the March 2014 due date.
The decision will enable Viktor Orbán’s government, in which Matolcsy served as minister of the economy, to dispense with an obligation to comply with the demands of the IMF, with which Hungary’s relations have often been difficult.

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