Hungarian forint falls to record low, but IMF help looks elusive

With the forint falling to a record low against the euro today, the news from Hungary goes from bad to worse, coming on the back of the breakdown in negotiations with the IMF and EU last month, a credit rating downgrade to junk, rising bond yields and protests against the new constitution. Talks are due to re-start with the IMF on 11th January, but the chances of reaching an agreement appear to be slipping.

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