Both the International Monetary Fund (IMF) and the EU have suspended a review of Hungary's funding programme. With this step, Budapest will lose access to what remains of a 25.1 billion dollar loan package, created by the EU and IMF, currently being used to support government finances. Hungarian Finance Minister Gyorgy Matolcsy said his country was keen to resume negotiations with IMF and EU on the issue. Hungary vowed to slash its deficit to 3.8 percent of gross domestic product this year and 3 percent in 2011 as part of the lifeline agreement with the EU, IMF and World Bank in 2008.