IMF, Hungary agree on package to bolster economy

Published: 26 Oct 2008 18:40:04 PST

WASHINGTON, Oct 26 - The International Monetary Fund said on Sunday it had reached a broad agreement with Hungary on a set of policies, backed by substantial financing, to stabilize the Central European country's economy.

"A substantial financing package in support of these strong policies will be announced when the program is finalized in the next few days," IMF Managing Director Dominique Strauss-Kahn said in a statement. "Participants will include the IMF, the EU, and some individual European governments, together with regional and other multilateral institutions," he added.

He did not disclose how much financing was involved.