Hungary to Boost Eurobond Sales by €3 Billion to Plug Budget Gap
From the Center
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Hungary abruptly boosted its foreign-currency debt issuance target as the government sought fresh funds to plug a widening budget gap.
The government said it will increase its gross issuance of foreign-currency denominated debt by about €3 billion ($3.4 billion), on top of 2.5 billion euros in bonds it issued earlier this year. The terms and timing of a potential international bond sale will depend on market conditions, Debt Management Agency Chief Executive Officer Mihaly Hoffmann said at a press briefing in Budapest.
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