Hungary's prime minister Gyurcsany sticks to his guns

By:
Dominic O’Neill
Published on:

If you are a fund manager interested in investing in central and eastern Europe, there is a strong possibility that you will be directed towards Hungarian government debt. The country’s debt management agency, the AKK, has issued about €2 billion annually to meet the country’s budgetary deficit in recent years. With about 30% of the debt held by foreign portfolio investors, perhaps the most important influence on its price is perception of the government’s resolve to limit an unusually large deficit.