The International Monetary Fund’s talks with Hungary have ground to a halt, with its spokesman announcing that its staff would not be going back to the country for the time being. He said that despite its debts, the country’s government did not agree with the terms being put forward for a loan.
The Wall Street Journal quoted the IMG’s spokesman Gerry Rice as saying that “Meaningful progress on program negotiations would require clear indication from the authorities that they see the IMF and the [European Commission] as valuable partners in designing the reform and adjustment process and a clear commitment…to policies that ensure balanced fiscal adjustment and promote growth.”
