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Hungary: 160,000 Loan Takes Convert Foreign Currency Debt
According to the Hungarian Financial market authority, 142,000 Hungarian households repaid foreign currency debt. Further 19,000 are expected.
Hungary: 160,000 Loan Takes Convert Foreign Currency Debt / Picture: © Vindobona.org
In September 2011, the Hungarian government resolved that Hungarian loan takers may repay foreign currency loans at favorable conditions. Most of them are indebted in Euro or Swiss Franc. The major part of the loan takers, who convert their debt, must take on new debt in Forint in order to refund old debt. As the Hungarian Forint depreciated significantly after the financial crisis in…
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