Hungary Debt Officials Said to Leave After Two Decades at Helm

Two top officials at Hungary’s Debt Management Agency will leave the authority after running foreign and domestic operations for two decades, according to a person with knowledge of the matter.

Deputy Chief Executive Officers Laszlo Buzas and Laszlo Andras Borbely will leave the agency, also known as AKK, and have both been given five-month notice periods, according to the person, who asked not to be named because they weren’t authorized to speak publicly. Buzas, Borbely and AKK spokeswoman Eva Szalkai declined to comment when reached by phone.

The change in management comes seven months after Gyorgy Barcza was named head of the agency. Since his appointment, AKK has accelerated efforts to cut Hungary’s share of foreign-currency and external debt and increase domestic holdings to reduce the country’s vulnerability to volatility on global financial markets.

Buzas, who joined the agency in 1997, has been in charge of international operations, including Eurobond sales. Borbely has been general deputy chief executive since 1995.

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