Right after the ECB announcement the Hungarian (1 1250 CZK, -0,45%) gave a speech on Face-book that the IMF demands in the letter sent in July contains unacceptable measures, like lower pensions, higher retirement age, cut in social subsidies, scrapping the bank tax etc. The market reacted nervously and the forint quickly weakened by 2% within minutes. Later it recovered most of the losses by the end of the day because investors realized that the government will not cancel the negotiations, but it will create its own program that could be the starting point for the negotiations.
The IMF/EU have not yet said anything about this. Earlier this week press reports hinted that the European Commission (EC) may start new infringement procedure against Hungary about the transaction tax. This was not confirmed by the EC.
It is worth reminding there is no urgent need for the IMF money for now. The government has to repay about €8bn in the next two years and has about €2bn in reserves. This means that it may finance itself until the spring next year.