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Hungary downgraded to 'junk' but says wants IMF deal

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Published on Jan 7, 2012 by

http://www.euronews.net/ Hungary was on a fast track to a financial crisis as Fitch became the third of the major rating agencies to downgrading the government's debt to 'junk' status -- meaning it is highly unlikely to repay money it has been lent.




Investors doubt the government's willingness to change its controversial economic policies which it has to do to get necessary loan guarantees from the International Monetary Fund and the EU.

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