Reuters: Regulatory News: Hungary plans 3-year, 15 bln euro IMF deal -state sec

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Hungary plans 3-year, 15 bln euro IMF deal -state sec May 7th 2012, 05:22 BUDAPEST | Mon May 7, 2012 1:22am EDT BUDAPEST May 7 (Reuters) - Hungary's government plans to secure a 3-year precautionary loan deal worth around 15 billion euros with the International Monetary Fund and the European Union to stabilise its economy, Prime Minister Viktor Orban's state secretary said on Monday. "We need to create a package that is largely in line with market expectations," Mihaly Varga told private broadcaster TV2 in an interview. "We should sign a 3-year precautionary deal, which would be worth around 15 billion euros," he said. "I deduced this from market expectations but I think by and large this is what we will be able to agree on."

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