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Hungarian Prime Minister unfriends IMF on Facebook

Last Updated: Friday, September 7, 2012 - 00:01

Budapest: Hungary`s Prime Minister has just used Facebook to unfriend the International Monetary Fund.

Viktor Orban today said in a brief video message on his official Facebook page that Hungary could not accept alleged conditions such as pension cuts and the elimination of a disputed bank tax in exchange for a loan of around USD 15 billion (USD 18.9 billion).

Orban said his government would work on an "alternative negotiation proposal" but that a deal under such IMF demands would be unacceptable. He said, "At this price, not like this."
Yesterday, Orban told journalists negotiations with the IMF and the EU were going according to schedule and both sides were willing to reach an agreement.
The Hungarian economy is in recession and its annual inflation rate is the highest in the EU.


First Published: Friday, September 7, 2012 - 00:01
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