ADVERTISEMENT

ÁKK to pre-finance €900 mln of maturing FX debt

MNB

Strong sales of government securities to retail investors will allow the Government Debt Management Agency (ÁKK) to make an early repayment of €900 mln in Hungarian FX debt this year, ÁKK said yesterday, according to state news agency MTI. 

ÁKK noted that Hungary is facing €5.5 bln of FX expiries next year. A week earlier, ÁKK Chief Executive György Barcza said Hungary would make early repayments on at least €1.2 bln of its FX debt this year, but it could pre-finance even more if forint issues continue to exceed expiries.

ÁKK has sold HUF 360 bln more in forint government securities than maturing papers, which is approximately €1.2 bln, Barcza said in an interview with Portfolio.hu. "Basically, thatʼs the amount we can use for pre-financing this year," he added.

Outstanding stock of government securities targeted at retail investors rose by about HUF 65 bln to almost HUF 2.992 trillion in July, ÁKK said on Wednesday. The stock accounted for nearly 20% of total forint government securities. Including householdsʼ holdings of Premium Euro Government Bonds, retail securities reached 15.4% of total state debt, ÁKK said.

ADVERTISEMENT

Rate-setters augur slower decline in CPI in 2022 Analysis

Rate-setters augur slower decline in CPI in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

Magyar Bankholding chairman to serve as CEO as well Appointments

Magyar Bankholding chairman to serve as CEO as well

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

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.