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Socialists-Parbeszed calls on govt to pull out from EBRD agreement on FX loans

January 11th, 2019

The opposition Socialist-Parbeszed party alliance on Thursday called on the government to pull out from an agreement signed with the European Bank of Reconstruction and Development (EBRD) on the financing of loans taken out in foreign currencies, saying that it did not serve Hungarian people's interests. Signed in 2015, the agreement guaranteed that FX loans, which suffered greatly after the forint plummeted during the 2008 economic crisis, could be converted to forint-based loans "without any cost on the banks' part" and that the Hungarian government would not stand in the way of evictions, Laszlo Szakacs, the deputy head of the Socialist party, said on Friday.


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