Hungary Buys Back USD 1 bln of Bonds

Figures

Hungary repaid USD 1 billion of dollar bonds maturing in 2023 and 2024 on Wednesday, Finance Minister Mihály Varga said in a video message posted on Facebook on Thursday, according to a report by state news wire MTI.

"With the measure, we have improved the maturity profile of state debt and strengthened Hungary's financial stability," Varga said.

"Even in the present dangerous times, Hungary is strong enough to repay its debt not only on schedule but ahead of maturity," he added.

Varga noted that Hungary's year-end state debt, relative to GDP, fell to 73.5% last year and is expected to decline further in 2023.

The Government Debt Management Center (ÁKK) issued USD 4.25 bln of FX bonds early in January and said part of the proceeds would be used to buy back dollar bonds maturing in 2023 and 2024.

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