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Further Nationalizations in Hungary?
Politics ♦
Published: September 23, 2013; 08:14 ♦ (Vindobona)
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In order to acquire further foreign-owned bank and energy companies, Hungary issues new sovereign bonds.
Further Nationalizations in Hungary? / Picture: © Vindobona.org
This year, Hungary has to issue a US-bond worth $ 5bn and a Eurobond with a size of € 1.0bn. According to the Hungarian government, the funds are needed to repay foreign debts. At the end of August, foreign exchange reserves only came at € 3.1bn. This is the lowest level since 2008. The decline in foreign exchange reserves is mainly due to the early repayment of the € 25bn IMF…
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