The International Monetary Fund, the European Union and World Bank rode to the rescue of Hungary Tuesday, throwing the embattled country a 20-billion-euro lifeline as it fights the financial crisis.
The IMF pledged a loan of 12.
5 billion euros (16 billion dollars), the European Union offered 6.
5 billion euros, while the World Bank added another billion euros, the IMF said in a statement.
"An IMF staff mission and the Hungary authorities have today reached agreement.
on an economic program supported by a 12.
5-billion-euro loan under a 17-month stand-by arrangement," IMF chief Dominique Strauss-Kahn said.