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ÁKK plans net forint issues of HUF 587 bln for 2011

Hungary's Government Debt Management Agency (ÁKK) plans net issues of forint government securities of HUF 587 billion this year, officials of the agency said on Thursday.

Net issues of forint government securities this year will reach HUF 126 billion by the end of June. Hungary has already issued the €4 billion of foreign currency debt in ÁKK's plan for the year, an amount level with maturing debt.

AKK converted dollar bonds issued abroad into €3 billion and it also issued HUF 1 billion of seven-year eurobonds, said ÁKK’s deputy chief Laszlo Borbély. Hungary must repay €1 billion of foreign currency debt in June and another €1 billion in October, he said. It must repay a further €2 billion in November and December, he added.