Hungary foreign bond issue to follow IMF agreement
The Hungarian government is committed to reaching an agreement with the IMF/EU as soon as possible, and a foreign bond issue will likely take place following the agreement, National Economy Ministry Deputy State Secretary Péter Benő Banai said at an online press conference on Thursday.
Banai was answering questions regarding the likelihood and timing of an agreement with the IMF and a foreign bond issue by the state of Hungary.
The ministry is watching market developments closely, Banai said, adding that the financing of the general government is stable and is secured from forint issues.
Hungary's government debt management strategy for 2012 targets financing this year's €4.8 billion in expiring fx debt through market issues worth €4 billion and the remaining €800 million in international development loans.
This year's foreign exchange expiries include about €3.4 billion repayment on loans granted under a 2008 EU/IMF standby agreement to the IMF, of which about €640 million was already repaid in February. The remainder is due in quarterly installments, with the next expiry worth about €925 million due in May-June. Other expiries include a Japanese yen 45 billion bond due in July and a €1 billion bond due in November.
ADVERTISEMENT
Bourse Turnover Reaches HUF 181 bln in November
India's G20 Presidency, Dawn of New Multilateralism - Narend...
Production Resumes at Ganz's Szolnok Plant
TikTok Commits to Improved Consumer Communication in Hungary
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.
