ADVERTISEMENT

ÁKK Chief: FX bond issue determined by market factors

History

Chiefly market factors are expected to determine when and in what FX denomination Hungary will issue bonds while the size of the issues will be determined by demand for forint denominated government bonds, the head of Hungaryʼs Government Debt Management Agency (ÁKK), György Barcza said in an interview released today.

In an interview with Hungarian daily Magyar Idők, Barcza said news that Hungary is putting off its plan to issue yuan-denominated bonds was false as no date was set in the first place, but he did confirm that ÁKK is planning an FX denominated bond issue, Hungarian news agency MTI reported.

Barcza noted that up till now no Central European country has issued a yuan bond, and only a few countries with larger economies have done so, MTI reported.

The goal is to make Hungarian assets known, make investors track Hungary and establish a group of potential investors, said Barcza according to MTI, noting that yuan bonds could become serious competitors to euro- and dollar-denominated bonds in around five yearsʼ time.

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.