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Hungary May Use Reserves to Repay Municipal Debt, Index Reports

Jan. 3 (Bloomberg) -- Hungary wants to use part of the central bank’s foreign-currency reserves to repay 187 billion forint ($775 million) of municipal debt that the central government assumed last year and to inject capital into the economy, news website Index reported, citing unidentified people close to the government.

The government may announce that it will make use of the reserves in February, Index said.

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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