The Government Debt Management Centre (AKK) will conduct a foreign-currency bond issue only after the conclusion of a financial-support deal between Hungary’s government and the IMF/EU, AKK Deputy CEO Laszlo Andras Borbely said on a radio programme on Friday, reconfirming AKK’s previously stated viewpoint.
Mr Borbely said that the AKK could organize an fx bond issue in three to four weeks. Mr Borbely added that the AKK does not necessarily need to issue foreign-currency bonds before the end of the year, because the government has enough reserves to finance Hungary’s debt as long as the forint bond market continues to function adequately.
Mr Borbely added that the AKK would likely issue fx bonds in dollars, since there is currently sufficient liquidity in U.S. funds.
