PSZAF Suspends Trade in Property Fund Units to Prevent Wave of Withdrawals

Financial market regulator suspends trade in property fund units as a result of some funds' reduced liquidity and to prevent a wave of withdrawals. 


ITDH Takes Hungarian Biotech Companies on Roadshow to Canada

Hungarian Investment and Trade Development Agency (ITDH) is taking Hungarian biotech companies on a roadshow to Montreal and Toronto, Canada on November 3-7, ITDH announced on November 6th.


Moody's Downgrades Hungary

Moody's Investors Service had lowered the local- and foreign-currency government-bond ratings.


Veres: OTP, CIB, MKB Meet Requirement to Draw on HUF 600 Billion Support Package

Three banks in Hungary meet the requirement for drawing on a HUF 600 billion support package.

October Fiscal Deficit Preliminary HUF 11.6 Billion

Hungary posted a cash flow-based general government deficit of HUF 11.6 billion in October, excluding local governments, the Finance Ministry said on November 6th.


EU Finance Ministers Approve EUR 6.5 Billion Credit Line for Hungary

EU finance ministers on November 4th approved a EUR 6.5 billion credit line for Hungary to support the country's economy, which has been hit hard by the global financial crisis.


Hungary’s External Financing Requirement to Fall In 2009 

Hungary's gross external financing requirement will fall in 2009 because of faster narrowing fiscal (to 2.6 pct of GDP from 3.4 pct this year).


AKK Cancels Bond Issues for Rest of Year

The Government Debt Management Agency (AKK) said that it was cancelling all remaining bond auctions.


EC Formally Proposes EUR 6.5 Billion Loan for Hungary

The European Commission on formally proposed making available a EUR 6.5 billion loan to Hungary to support the balance of its current account.


Industrial Producer Prices Rise 4.7 Pct Yr/Yr in September

Hungary's twelve-month industrial producer prices rose 4.7 pct in September, picking up from a 3.2 pct increase in August, the Hungarian Central Statistical Office (KSH) reported on October 30th 2008.  


News Monitoring