February 8th, 2011

Hungary to start repaying IMF loan in 2011, says ministry

Hungary will this year start repaying the 20-billion-euro stand-by loan Hungary raised in October 2008 from the International Monetary Fund, the European Commission and the World Bank, the Economy Ministry said on Monday.

Hungary is still stabilising its economy, the ministry said in a report on the domestic securities market posted onto kormany.hu on Monday. Having returned to market financing in 2010, the government will start repaying the loan package this year, it said, without specifying the exact timeframe.

Despite volatility in the international capital markets due to financial difficulties faced by some advanced economies, Hungary’s government bonds are ensuring stable financing, the ministry said.


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