Hungary issues EUR 575 m of samurai bonds

Hungary has successfully issued 575 million euros’ worth of government bonds on the Japanese market with favourable interest rates, Finance Minister Mihály Varga said on Facebook on Friday.

Hungary issued three-, five-, seven- and ten-year bonds, Varga said, adding that green bonds accounted for “the biggest part” of the issue.

“Investor confidence in the Hungarian economy is unbroken,”

he said.

Varga said that unlike in 2008, when the left-wing government had been “incapable of repaying its expiring debts” and had to turn to the IMF for a loan, the current government, “thanks to the consistent and credible economic policies of the past years”, had no trouble securing long-term market resources in spite of the crisis caused by the pandemic.

And whereas in 2010 the proportion of Hungary’s public debt in foreign currency was over 50 percent, today it stands under 25 percent, Varga said, adding that the share of debt held by foreign investors had fallen to 30 percent from 65 percent 12 years ago.

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Source: MTI