Official talks may begin any time after July 13, as Parliament will pass the amendments to the central bank law by July 12 at the latest, Chief negotiator Mihaly Varga told reporters.

“The proposed amendments and commitments address our key concerns,” Lagarde wrote.

The IMF has not insisted that the possibilities of appointing new members to the monetary council or of appointing a third deputy governor of the MNB be withdrawn, Nepszabadsag observes.

Prime Minister Viktor Orban has promised that no such appointments will be made before MNB governor Andras Simor’s term ends next March.

Varga said recently that the IMF could set tougher conditions for a stand-by loan arrangement than for a precautionary line of credit, which the government is striving for.

Based on talks in 2010, some conditions may revolve around the financing of public transport and local governments and the tax system, Varga added.

Source: Hungary Around the Clock

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