November 6, 2008
Hungary will pay an annual stand-by fee of 0.25 pct and interest of 5-6 pct on a EUR 20 billion credit line from the IMF, the EU and the World Bank.
The conditions of the support package were publicized by Andras Simor, the governor of the National Bank of Hungary, at a press conference on October 29th 2008.
Hungary may call the credit until the end of March 2010, Mr Simor said. The repayment term is 3-5 years. The purpose of the credit line is to strengthen the confidence of global money and capital markets in Hungary, as well as to help finance the current account balance, the governor said.
