Hungary Will Repay IMF Loan Ahead Of Schedule, PM Says

(RTTNews) - Hungary will pay back its loan in the course of summer, which was taken to rescue the economy from a risk of bankruptcy during the financial crisis, Prime Minister Viktor Orban reportedly said Saturday.

The nation availed the loan from the International Monetary Fund and the EU during 2008-09. The borrowing of more than EUR 2 billion will mature in 2013, and the rest of the loan next year.

Orban said he has directed the Economy Minister to make arrangement to prepay the entire amount this summer, ahead of the schedule.

Earlier in July, Hungary's central bank called on the IMF to shut its local office in Budapest. The government is set to seek re-election next year.