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Thu 10 Oct 2008Hungary receives $25bn bailout
A HUGE international loan boosted Hungary's currency and stock market yesterday, but came with demands for austerity measures which are likely to bring hardship to most residents of the beleaguered central European state.
The International Monetary Fund (IMF), the European Union and the World Bank combined to pledge $25.1 billion to support Hungary - double the amount expected by analysts - as it struggles to secure credit on global markets to service a mountain of debt denominated in foreign currencies.
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