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Hungary to pay off IMF loans this summer, earlier than planned: PM Orban

Hungary will repay its loans from the International Monetary Fund this summer, months earlier than was planned, Prime Minister Viktor Orban said on Saturday.

Most of the 2.1 billion euros ($2.8 billion) that remains to be paid from the 20 billion borrowed from the IMF during the 2008/2009 global crisis matures in 2013, and the rest next year.

"Yesterday I told the Economy Minister that we will prepay the entire amount to the IMF this summer," he said in a speech at a conference in the Romanian town Baile Tusnad, broadcast by the Hungarian television channel HirTV.

[Source: Reuters, Budapest, 27Jul13]

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small logoThis document has been published on 29Jul13 by the Equipo Nizkor and Derechos Human Rights. In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.