- 11 Apr 2016 9:00 AM
It seems that the government’s aim with this scheme is not debt financing, as Hungary pays 2% interest on the bonds, while the corresponding market yield is 0.8%, Magyar Nemzet observes.
It is more likely that the government wishes to transfer money to the agents who sell these bonds, the newspaper said, adding that the ultimate owners of some authorised selling agents cannot be identified, as the company CEOs are “straw men”.
Selling agencies have received Ft 79-95 billion in commissions from the sale of the bonds to date, Magyar Nemzet estimates.
Source: Hungary Around the Clock
This news item is one of many published daily by HATC, a premier subscription news service which distributes English-language info about Hungary via email or fax. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.