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Hungary started to repay IMF loan of 2008

Hungary paid HUF180 billion installment to the International Monetary Fund (IMF) in February. The EU received the first payment by last November.

23 February 2012

Difficulties with Early Repayment in HungaryHungary has already paid due intallment for IMF loan package in 2008 -said the Deputy Financial Secretary of the Ministry of National Economy at a press conference.

Hungary had to start repaying to the IMF in the first quarter of this year. The government, however, was not expected to wait until end of March, and EUR619 million - roughly HUF180 billion measured at current exchange rate - arranged in February.

In 2008, Hungary uused up EUR12.5 billion of 20 billion so that EUR7.5 billion were stand-by during Bajnai and the Orbán government. The EU received EUR2 billion from the Hungarian governement in November last year. The loan repayment expires in the second quarter of 2016 when the last payment needs to be tranferred o Brussels.