* Hungarian forint lowest in nearly 3 mths, stocks fall
* China’s yuan slips after band widens, stocks steady
* Russian stocks fall 1 pct, led by Sberbank
By Carolyn Cohn
LONDON, April 16 (Reuters) – Hungary’s forint hit its lowest
in nearly three months on Monday on renewed worries about the
country’s chances of getting international aid, with concern
about the euro zone crisis keeping all emerging assets
depressed.
Spats between indebted Hungary and the European Commission
have delayed the start of aid talks with the European Union and
the International Monetary Fund.
Hungarian Prime Minister Viktor Orban last week resisted
the EU setting political preconditions for starting aid talks,
saying it would amount to “blackmail”.
Rising euro zone peripheral bond yields have encouraged a
sell-off in riskier emerging market assets, and Hungary is one
of the most vulnerable in emerging Europe.
“There are renewed fears about the future of the IMF
programme in Hungary … after the government raised objections
to the conditions attached to the IMF programme,” said Neil
Shearing, chief emerging markets economist at Capital Economics.
Continued…
