Hungary Assets ‘Cheap’ Ahead of IMF Deal, Citigroup’s Costa Says
Hungarian assets are “cheap” because the government will probably obtain a financing agreement from the International Monetary Fund and the European Union, London-based Citigroup Inc. strategist Luis Costa said.
Hungary may obtain between 10 billion euros and 15 billion euros, Costa said in an e-mail today. Hungarian assets may weaken from current levels because of delays in the government’s acceptance of loan conditions and possible contagion from the euro crisis, he said.
“A trigger for a rally in markets will come from any firm commitment by the government that it wants to fully engage with the IMF and the EU,” Costa said.
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