IMF shuts up shop in Budapest as Hungary clears its debt

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The Central Bank of Hungary has repaid its €721 million debt to the International Monetary Fund (IMF) ahead of schedule, clearing the way for the Fund to pack up its representative office in Budapest at the end of the month.

The repayment wipes the slate clean between the Central Bank of Hungary and the IMF, and the Hungarian authorities are keen to reduce the fund's presence in the country. The central bank's governor, György Matolcsy, informed the IMF's managing director, Christine Lagarde, of

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