ÁKK CEO: FX debt share to shrink to around 20% in 5 years

MNB

The share of FX-denominated debt could shrink by 2-3% a year, and could reach approximately 20% in five years, György Barcza (pictured), CEO of the Government Debt Management Agency (ÁKK) told news channel M1 today.

Barcza said in February that the FX share of state debt fell to 36%-38% by the end of 2014. The CEO did not rule out raising yields for government bonds in the future.

Interest rates have been falling rapidly and it seems Hungarians need a little time to adjust to the fact that with inflation at 0% or even negative, even a 3% interest rate could give decent yields in real terms, he added.

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