Hungary ready to discuss IMF loan

Hungary on Thursday indicated it was ready to negotiate a standby loan with the International Monetary Fund without setting preconditions and was also open to discussing a recent law that critics say compromises the independence of the country's central bank, The Wall Street Journal reported.

Hungary's forint currency (EURCHF) continued Thursday to plumb all-time lows versus the euro, changing hands in recent action at 321.53 per euro, a loss of 0.4% from Wednesday.

The cost of protecting Hungarian debt against nonpayment via credit default swaps continued to soar, hitting $760,000 annually to insure $10 million of government debt against default, up $44,000 from Wednesday, according to data provider Markit.

Source : Marketwatch.com

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