BUDAPEST: Hungary's prime minister on Monday ruled out entering an austerity-based financing agreement with the International Monetary Fund (IMF), saying the country only needed a safety net to defend itself from the debt crisis in Europe.
"We need an IMF agreement because of the problems of Europe, so that the troubles of the euro zone do not drag down the country with them," Prime Minister Viktor Orban told parliament.
Orban said Hungary did not need a strict IMF stand-by agreement, such as the one secured by a previous, Socialist government to save the central European country from bankruptcy in 2008.
He said Hungary wanted to sign a "good agreement" with the IMF that would help the government implement its 300 billion forint economic stimulus programme planned for next year.
Comments
Comments are closed.