Hungary to IMF: we don’t need you | beyondbrics:
"Has campaigning already begun for Hungary’s elections in April next year?
News on Monday that the government is to repay in advance the remaining €2.2bn it owes to the IMF from its 2008 loan looks suspiciously like a political rather than an economical move.
News agencies said the economy ministry would make the payment by August 12, seven months before the March 2014 deadline. As Timothy Ash of Standard Bank noted, this is a big chunk of the government’s fiscal buffer, reducing its total FX reserves by about a third."
'via Blog this'
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