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Hungary doesn't need new IMF financing deal-govt

Published 08/25/2010, 05:34 AM
Updated 08/25/2010, 05:40 AM

BUDAPEST, Aug 25 (Reuters) - Hungary does not need a new financing deal with the International Monetary Fund, and talks planned with the fund later this year will be about a regular country review, the Economy Ministry said on Wednesday.

"The Hungarian State has not drawn upon fresh funds from the existing IMF/EU/World Bank loan since July 2009. It is able to finance itself from the market and the country reckons with relying on market financing in the upcoming period as well," the ministry said in a statement.

"Based on this, there has not been and will not be need for a new loan agreement in the future either, therefore the talks planned for the autumn are not aimed at signing a new loan agreement."

The forint fell by around 0.4 percent against the euro following the ministry's statement.

(Reporting by Krisztina Than; Editing by John Stonestreet)

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