Forex Secret

.

Hungary: Bonds after the failure of talks with the IMF










Hungary has borrowed $ 3250000000 (2.5 billion) bond market, its first issue of the recent failure of negotiations with the IMF on Wednesday said that the National Debt Management Center (AKK).

"Hungary is bond maturing in 5 years with a value of $ 1.25 billion, at a rate of 4.12%, and the bonds that mature 10 years from 2.0 billion rate of 5.37%," said Laszlo Andras Borbely Wednesday, Deputy President AKK national radio MR1.

The investment in the bond market is the largest in Hungary in May 2011, and more recently the failure of talks with the International Monetary Fund (IMF) in order to obtain a line of credit of almost 15 billion euros.

"Investor interest was very strong dollar bonds," he added in a statement Wednesday AKK, encryption request for $ 12 billion.

"With the issue of Tuesday, half of our foreign currency bond sales program, practically been achieved," said Borbely. Hungary plans to put 5100000000 € in the bond market this year.

Hungary, a member of the EU but not the eurozone, fell into recession in the second quarter of 2012, and should remain there in 2013.

In November 2011, with the weakening of the Hungarian currency, the forint against the euro, the country requested a credit line of 15 billion euros from the IMF and EU. Discussions began in July 2012, but were not successful.

January 30, Conservative Hungarian Prime Minister Viktor Orban said that Hungary "should not" borrow money from the IMF and EU funding situation has improved and wanted the capital markets.

For analysts, the Hungarian issue significantly improve the state of the financial markets in Europe.
Back To Top