Hungarian PM rejects IMF loan terms as ‘unacceptable’September 7, 2012 - 10:59 AMT PanARMENIAN.Net - Hungarian Prime Minister Viktor Orban has rejected as unacceptable the conditions attached by the International Monetary Fund (IMF) to a new 15bn-euro (£12bn; $19bn) loan. According to BBC, on his Facebook page, Orban said the list of the loan terms "contains everything that is not in Hungary's interests". Orban said this included pension cuts and the withdrawal of a tax on banks. He said his government would present an "alternative negotiation proposal". The IMF has not publicly commented on Mr Orban's remarks. The center-right government in Budapest first announced that it would seek a new loan last November, backtracking on tough, anti-IMF rhetoric in the past. Talks began but collapsed almost immediately, according to BBC. Since then, negotiations have resumed, and Mr Orban told reporters as recently as Wednesday that negotiations with the IMF, as well as the European Union, were on schedule. Hungary's economy is now in recession, although Budapest has been able to keep financing itself through bond sales. The government has said it is seeking a precautionary IMF loan for emergency funds. In 2008, Hungary was given a 20bn-euro standby loan to prevent it having to default on its debts. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |