Gov't extends blanket repayment moratorium till Sep 30

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Hungary's government has extended a blanket moratorium on loan repayments for three months until the end of September, state news wire MTI reports citing a decree published in the latest issue of the official gazette Magyar Közlöny.

Late in May, Gergely Gulyás, the head of the Prime Minister's Office, had said the moratorium would be extended for a period of two months.

In a report published a week earlier, the National Bank of Hungary (MNB) warned of risks involved with maintaining the blanket repayment moratorium and urged borrowers who don't require the backstop to start paying installments again.

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