Tamás Fellegi’s forward-looking talks in Washington

Minister without portfolio for negotiations between Hungary and certain international financial organisations Tamás Fellegi had informal consultations with the International Monetary Fund (IMF) in Washington between 9-12 January 2012 to prepare negotiations about Hungary’s borrowing. On the last day of his visit, the minister consulted IMF Managing Director Christine Lagarde about the possible schedule of effective negotiations. The head of delegation confirmed that the Hungarian Government remained firmly committed to the earliest possible conduct of negotiations.

In the course of his Washington visit, the minister without portfolio consulted IMF Managing Director Christine Lagarde, several members of the IMF Board of Directors, David Lipton, First Deputy Managing Director of IMF, Reza Moghadam, Director of the IMF's European Department, and members of the IMF Board Willy Kiekens, Margarethe Lundsager and Douglas Rediker. Tamás Fellegi also met Christoph Rosenberg, the organisation’s experts in charge of Hungary, as well as Hungarians working for the World Bank and IMF.

Minister Tamás Fellegi and IMF Managing Director Christine Lagarde discussed Hungary’s current economic standing in the global context. They agreed that Hungary needed to follow a policy that reinforces market confidence in Hungary and lays the foundations of sustainable economic growth in Hungary. The Hungarian government is committed to taking the actions leading to the achievement of these objectives in the framework of a mutually accepted economic programme. The minister stressed that time was a significant factor. As Hungary is a member of the European Union, any discussion with IMF must be reconciled with the competent EU institutions. For this reason the Hungarian delegation will have talks with the European Central Bank and the European Commission before long. The minister confirmed the Hungarian Government’s readiness to discuss any issue raised by the negotiating parties.

Tamás Fellegi’s schedule included a discussion with the competent officials of the US Foreign Department, Marie Yovanovitch, Deputy Assistant Secretary in the US State Department and José Fernandez, Assistant Secretary of State for Economic, Energy, and Business Affairs.

Furthermore the minister also participated in a private meeting with the experts of the Center European Policy Analysis (CEPA). During his four-day visit, Tamás Fellegi also met Hungarian-American Coalition President Maximilian Teleki.

Tamás Fellegi will continue his preliminary consultative tour on 16 and 17 January, in Germany, where he will have talks, among others, with Mario Draghi, Governor of the European Central Bank, Dr. Jens Weidmann, Governor of the Federal Bank of Germany, where he will be accompanied by András Simor, Governor of the National Bank of Hungary. During his two-day visit he will meet Federal Finance Minister Wolfgang Schäuble, and various government high officials as well as heads of German banks.

Subsequently, on 29 January, 2012 he will have talks with Ewald Nowotny, Governor of the National Bank of Austria and Finance Minister Maria Fekter. On 20 January, 2012 the delegation head will consult Olli Rehn, deputy head of the EC and European Commissioner for Economic and Financial Affairs in Brussels.

(Press Office of the minister without portfolio)