While Romania is leading the way in getting the lowest rates on numerous IMF loans, further plunging the country into debt, Hungary’s financial ministers are having a dialogue on what went wrong before PM Orban came to power in 2010, and why can’t he get a loan with such a low interst rate as Romania? Below is a letter from the ex-Financial Minister of Hungary Peter Oszko to the Financial Times.
More bad news from the IMF:
January 25, 2012 4:41 pm by Stefan Wagstyl
Hungary could get by without a financial rescue as long as things get no worse in the eurozone. But if there is a new eurozone shock, Budapest would struggle to meet its external financial obligations.
That’s the view of the International Monetary Fund, published on Wednesday, as prime minister Viktor Orbán redoubles efforts to persuade the Fund and the European Union to help him out…
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