July 27, 2013 / 9:21 AM / in 5 years

Hungary to pay off IMF loans this summmer, earlier than planned-PM Orban

BUDAPEST, July 27 (Reuters) - Hungary will repay its loans from the International Monetary Fund this summer, months earlier than was planned, Prime Minister Viktor Orban said on Saturday.

Most of the 2.1 billion euros ($2.8 billion) that remains to be paid from the 20 billion borrowed from the IMF during the 2008/2009 global crisis matures in 2013, and the rest next year.

“Yesterday I told the Economy Minister that we will prepay the entire amount to the IMF this summer,” he said in a speech at a conference in the Romanian town Baile Tusnad, broadcast by the Hungarian television channel HirTV.

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