The International Monetary Fund, the European Union and the World Bank announced a huge rescue package for Hungary yesterday in an attempt to save central Europe's former economic powerhouse from bankruptcy.
The $25.1bn (£15.3bn) bail-out, which was much larger than expected, aims to help restore investors' confidence in the country's financial markets and the forint, and marks the first time that an EU member state has been rescued by the IMF.
No, it doesn't. A certain country was rescued in 1976 with an IMF loan. BusinessWeek is a better guide.