Hungary does not need the IMF financial aid

Hungary does not need the financial support of the IMF, Hungarian Finance minister declared for the Financial Times. He added that the efforts of the government to control public spending has paid off.

Nonetheless, the minister underlined that Hungary continued to benefit from the IMF evaluations that offered more credibility on the external market about the country’s efforts to endorse fiscal reform.

Hungary was one of the countries most affected by the current crisis. Economic problems determined the government to quit and the country requested in October 2008 a 20 billion euro loan from the IMF, World Bank and the EU.