BUDAPEST: Strong sales of government securities to retail investors will allow the Government Debt Management Agency (ÁKK) to make an early repayment of €900 mln in Hungarian FX debt this year, ÁKK said yesterday, according to state news agency MTI.
ÁKK noted that Hungary is facing €5.5 bln of FX expiries next year. A week earlier, ÁKK Chief Executive György Barcza said Hungary would make early repayments on at least €1.2 bln of its FX debt this year, but it could pre-finance even more if forint issues continue to exceed expiries.
ÁKK has sold HUF 360 bln more in forint government securities than maturing papers, which is approximately €1.2 bln, Barcza said in an interview with Portfolio.hu. “Basically, thatʼs the amount we can use for pre-financing this year,” he added.
