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AKK projects negative net issuance

Hungary's Government Debt Management Agency (AKK) projects net repayments on both foreign and domestic bonds in the second half of the year, AKK deputy head László András Borbély said yesterday. Hungary's government debt would drop in H1 as a result, unless the forint's exchange rate changes substantially, he said. At present some 28% of gross government debt is in foreign currency debt. AKK has completed the net issues planned for the whole year with issuing net Ft 1,100 billion, including net foreign currency issues of Ft 626 billion, in H1. (Econews; NG 2)