„The Hungarian government Wednesday added a fresh example to its growing list of communication problems when it dashed hopes of the financial markets that it would return to the negotiating table with the International Monetary Fund in the autumn.
On Tuesday, the Hungarian Economy Ministry said in a statement that »the negotiations will likely continue in the autumn and an agreement will be reached.« The Hungarian forint firmed considerably as investment banks welcomed the government’s major change in attitude toward the IMF that bailed the indebted country out in 2008.
But on Wednesday, the same ministry issued a statement explaining that the autumn talks, expected after Hungary’s local elections scheduled for Oct. 3, will only be part of regular consultations, and that Hungary won’t seek to strike a new deal with the IMF. The forint quickly lost its previous gains.
The government’s inability to communicate clearly with financial markets has become a pattern, investment bank economists said.”