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Hungary „Still Obtains Funding from the Financial Market“
Politics ♦
Published: September 26, 2012; 19:46 ♦ (Vindobona)
Vince Szalay-Bobrovniczky, the Hungarian ambassador in Vienna, emphasized that Hungary is not dependent on the IMF loan. The IMF urges Hungary to reduce its bureaucracy, he says.
Hungary „Still Obtains Funding from the Financial Market“ / Picture: © Vindobona.org
Although Hungary still has access to the financial markets. At the moment, Hungary´s interest rate on sovereign debt comes at 7.6%. In April, the rate stood at 10.6%. However, an IMF loan would be desirable, Szalay-Bobrovniczky says. The negotiations should be concluded in November 2012, he says. The size of the loan should reach € 15bn to € 20bn.
The preconditions are not…
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