Mihály Varga, Hungary’s chief negotiator in talks with International Monetary Fund, said negotiations with IMF are not going well. While the government needs to consider political and social policy aspects, the IMF wants to focus on how the country will create growth and keep the budget deficit under 3 percent of GDP, Varga said. He added, however, that the upcoming election for the new president of the National Bank of Hungary will create an opportunity to harmonize the country’s fiscal and monetary policies. Varga said he would not accept the bank president post, because there are more important issues in the Parliament.
