“A long-running dispute between Hungary and the International Monetary Fund escalated on Monday when the head of the country’s central bank called on the IMF to close its office in Budapest, saying it was no longer needed. On Monday, central bank chief Matolcsy said Hungary would repay the 2008 loan in full by the end of this year. He said the government had succeeded in pushing its budget deficit below the EU ceiling of 3 percent of GDP. Matolcsy is the architect of Orbán’s unorthodox economic policy which is based on imposing heavy special taxes on large companies. He became central bank governor four months ago.”
