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Orbán cabinet silently took on another huge foreign USD loan before the elections
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Hungary’s state debt manager has turned to the market via a private placement to issue more dollar-denominated bonds maturing in 2035, Bloomberg reports. This taps the original USD 1 billion loan, with a further USD 1.2 billion now sold.
USD 1.2bn more ahead of the April elections
The Debt Management Agency (ÁKK) first launched 5-, 10- and 30-year dollar bonds totalling USD 4 billion last June. Bloomberg says the latest tranche adds another USD 1.2 billion to the 10-year paper. The outstanding volume of these September 2035 bonds now stands at USD 2.2 billion.
The agency has made no official announcement, probably owing to strict US rules that bar issuers from public disclosure for a few days until settlement. A formal statement may follow shortly. Private placements gauge investor demand first, then sell directly to a select group.
The original 2035 bonds carried a 6 per cent coupon; this tap is believed to have priced at a lower yield. Under ÁKK’s financing plan unveiled last December, Hungary budgeted HUF 2,541 billion (about EUR 6.5 billion) in foreign currency issuance for 2026, including up to EUR 2 billion from the EU’s shared SAFE facility.
With EUR 3 billion in bonds already placed in January, room remained for this deal. Even so, if plans hold, net foreign currency sales for the rest of the year will be modest, capped at about EUR 0.5 billion.
Chinese loan expires in 2027
The Orbán government began tapping foreign loans in spring 2024, borrowing €1 billion from Chinese banks (China Development Bank, Eximbank, Bank of China) for infrastructure. Those so-called panda bonds mature in April 2027.
It is painfully obvious that Hungary, much as is Bulgaria, Romania, Serbia, Croatia, Albania, and Moldova, have economic issues, for a wide variety of reasons.
Looking at this from The American South, I would first say that we also have problems – problems which, first and foremostly, can be traced to the relentless looting of our societies by Internal Bankers and Corporations, and our politicians who do their bidding.
Add to that the very bad century that Hungary recently had, and add to that none of the Hungarian Governments, since the fall of Kadar, have made a serious concerted attempt to deal with these structural issues.
If I were a Hungarian Voter, I would feel in a very difficult position, because the only candidate who has a logical program to address these issues is Toroczkai László.
He, however, is not going to do better than 8 % – this according to the few Hungarian polls which history shows are reliable.
This leaves Magyar or Orbán, neither of which seem to have the background or comprehension suited to this particular problem.
Therefore, the next 4 years of Hungary’s future will not be happy, economically speaking.
That is why Orbán is vastly better than Magyar – because he will at least not allow the Replacement of White Straight Hungarians with those who are not.
Mi Hazánk is the only party that has a superior economic program, a respect for their own people, and a proven track record of not being corrupt.
But, again, they are not going to win – this because too many Hungarians buy into the false promise of the future, and Mi Hazánk is definitely not a futuristic thing, but, something that is truly proven from Hungary’s long storied past.
Péter come and read this comment and you will know the story.
Mi házank designed a bot so they found the cheapest solution in a Russian seller, they named it Mouton 😂
Here is the whole story 😂
So Fidesz is cashing out while they still can. If I was a teacher, I wouldn’t hold my breath for that 150 000 forint bonus. My guess is there will be some last minute issue and of course Brussels/Ukraine is to blame, or the money just quietly disappears somewhere and no one knows what happened and why teachers did not get any bonus… I hope my guess is wrong.
It is going to be a tough job for Tisza to try and sort out a plan to recover financially from all these loans that Fidesz took and spent on who knows what – certainly not much on actually developing Hungarian society.
Lening op lening op lening ,persoonlijk of als land afgesloten.
Als je een hypotheek afsluit voor bv een huis, kan je de vraag stellen wie het huis bezit tot de lening is afbetaald?
Symplistisch antwoord: de bank ( leningverstrekker)
Wie bepaalt de regels?
Simplistisch antwoord: de bank( leningverstrekker )
Wie bezit een land en bepaald de uiteindelijke koers van een land dat lening op lening op lening afsluit bij een financiële instantie in bv de Verenigde Staten, China, of Rusland?
Simplistisch antwoord: de geldverstrekkers ( bv centrale bank ef multinational)
Moraal van het verhaal: wiens brood men eet, diens woord men spreekt.
Al de rest valt onder de noemer” politiek” een noemer die tracht iets te rechtvaardigen wat niet te rechtvaardigen valt.
Waarom denk je dat de Europese unie zoveel geld verschaft aan Oekraine ?
Uit naastenliefde misschien?
Het antwoord is vaak symplistischer dan eerst gedacht is mijn mening.
In het geval van Oekraïne al het menselijk leed ten spijt,word er veel geld verdiend aan de oorlog en word er nog meer geld verdient aan de wederopbouw.
Als voorbeeld: het Marchal plan na de tweede wereldoorlog.
Oekraine, rijk aan grondstoffen, is als natie volledig overgeleverd aan de hebzucht van de geldverstrekkers en heeft weinig recht van spreken tot de lening ( bv staatschuld) is afbetaald.
Ik weet het, een sympistische benadering van de feiten.
De waarheid is vaak te vinden in de simpele voorstelling der dingen.
Klopt, Luk!
Translation from the reply above from Dutch to English
Loan after loan after loan, taken out personally or as a country seems to be normal but it is not.
If you take out a mortgage for a house, for example, you might ask who owns the property until the loan is paid off?
Simplistic answer: the bank (lender).
Who sets the rules?
Simplistic answer: the bank (lender).
Who owns a country and determines its course when a country takes out loan after loan from a financial power like the United States, China, or Russia?
Simplistic answer: the lenders (e.g., a central bank or multinational).
Moral of the story: a country sells its right to self-determination with every loan it takes out. National debt is the sword of Damocles.
Everything else falls under the heading of “politics,” a term that attempts to justify something that cannot be justified.
Why do you think the European Union “gives “so much money to Ukraine?
Perhaps out of charity?
The answer is often more simplistic than initially thought, in my opinion.
In the case of Ukraine, all the human suffering is regrettable, a lot of money is made from the war, and even more money is made from the reconstruction.
For example: the Marchal Plan after World War II.
Ukraine, rich in raw materials, is completely at the mercy of the lenders’ greed and has little right to speak until the loan (e.g., national debt) is repaid.
I know it is just a sympathetic approach to the facts.
The truth is often found in the simplistic presentation of the facts.
Another Fidesz propagandist account using vague nonsense to try and deflect the story from the fact, that Fidesz is secretly taking out massive loans just before elections that Fidesz is likely to lose.
Dear Ostanus
You should really read my comment carefully before responding with a response that veers towards conspiracy theories.
In my comment, I’m talking about the danger that a country with excessive national debt can jeopardize its right to self-determination by constantly borrowing.
Not just the right to self-determination, but the financial survival of its entire population.
You know, even people without political aspirations write comments on articles.
I heard a very similar story about a state leader who flee the country and right before that he went an ally and asked for 50 m $ loan.
Who was that, who was that, Oh Yeah I found it: It was Al-assad when he escaped Syria and he asked a loan from Iran few days before the regime collapsed.
😂
Is Orbán trying to escape?