Heavily indebted Hungary is to receive a development loan from China of 1 billion euros (1.3 billion dollars), it was announced Tuesday during a visit by Chinese Vice President Li Keqiang, dpa reported. An agreement to that effect was signed by Hungarian Economy Minister Gyorgy Matolcsy and representatives of China Development Bank in Budapest. Hungary is soon to enter talks with the International Monetary Fund over a 15- to 20-billion-euro loan, though no date has yet been set. The negotiations have been repeatedly delayed because of IMF concerns over the government's policies, including a central bank law passed in December, which the IMF fears are detrimental to attracting investment. Centre-right Prime Minister Viktor Orban has said in the past that he would like the country to look "more to the East." -- SPA
