CRISIS: HUNGARY, TALKS WITH IMF TO RESUME IN SEPTEMBER

Talks between the Hungarian Government and the International Monetary Fund will resume in September. The announcement was made by the Hungarian Minister for Economic Affairs Gyorgy Matolcsy, who had previously dismissed the idea of further austerity measures, over and above those already taken. Talks between negotiators for the Hungarian Government, the IMF and the EU Commission over revising the 20 billion euro funding agreement reached in October 2008 had broken down. Mr Matolcsy said that “the IMF will be back in September and we will then resume our negotiations”.