IMF: Get Out

Hungarian parliament-Budapest

The International Monetary Fund (IMF) will not seek replacement of its resident representative

in Hungary, whose assignment ends in August, the IMF told the press on Monday.

IMF Managing Director Christine Lagarde received today a letter from Hungary’s central bank governor Gyorgy Matolcsy informing her of the government’s intention to initiate the closure of the IMF office in the beautiful city of Budapest.

As Iryna Ivaschenko’s posting as resident representative in Hungary was due to end in late August and the IMF’s presence in member countries is at the invitation of country authorities, the IMF will not seek to replace her, IMF spokeswoman Angela Gaviria said. The IMF looks forward to continued cooperation with Hungary in the context of regular bilateral consultations as with other member countries, she added.

Earlier on Monday, the governor of the National Bank of Hungary (NBH), Gyorgy Matolcsy, said that Hungary intended to initiate the closure of the IMF’s office in Hungary.

Reported by batta-el-dou