Hungary Optimistic about IMF Deal in Fall

Hungary’s prime minister said Wednesday he expects a deal for a precautionary loan from the International Monetary Fund and the European Union to be completed in the autumn.

Viktor Orban said that while there were still some differences over the terms to be ironed out, negotiations were progressing. Orban said discussions about the sums involved had not yet been touched upon, though a deal of about 15 billion euros ($18.8 billion) is expected.

“Negotiations with the IMF and the EU are advancing at a good pace and according to schedule,” Orban told a group of foreign correspondents, adding that the government was expecting to give its reactions to separate IMF and EU proposals in the next couple of weeks. “This is the biggest issue of the upcoming political season.”

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza