Hungary Seeks to Widen the Scope of Foreign Loan Plan, MTI Says

Hungarian ruling party lawmaker Antal Rogan proposed that all foreign-currency mortgage holders with a maximum loan of 30 million forint ($138,722) be allowed to temporarily service their debt at lower exchange rates, state news service MTI said.

Initially, only debtors whose property value was under 30 million forint at the time they took out the mortgage were allowed to take part in the program, MTI said. Lawmakers are currently debating the plan, the news service said.

The government and local banks agreed in December to share foreign-currency mortgage losses by allowing debtors to repay their loans at below-market exchange rates for five years, MTI said.

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To contact the reporter on this story: Edith Balazs in Budapest at ebalazs1@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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