ÁKK modifies 2021 issue plan

Debt

The Government Debt Management Agency (ÁKK) yesterday said it modified its 2021 issue plan in September to create an opportunity to issue foreign currency bonds of up to EUR 4.5 billion in a release on its website.

This would provide the necessary bridging funding for the possible delay in advance payments of the European Union's Recovery and Resilience Facility (RRF), coverage for certain government expenditures in 2021, and partial pre-financing of the 2022 budget deficit.

ÁKK confirmed in the statement that the government's 2021 ESA deficit target is 7.5% of GDP. ÁKK increased its international FX bond issuance framework of HUF 644 billion in its latest financing plan published on May 10, enabling the issuance of additional, benchmark-sized foreign currency bonds, the debt manager said.

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