Hungary Extends Eviction Moratorium for Forex Debtors

Hungary’s parliament, in its first decision in the new term, this week passed a bill to extend an eviction moratorium for foreign-currency mortgage debtors, The Wall Street Journal Emerging Europe Real Time blog reported. The moratorium, which also involves debtors who are late with their loan payback, will be in place until the government works out a solution for all households with debts in foreign currencies. The current law only affects debtors who haven’t got anywhere else to stay, but gives no value limit on properties in question. In Hungary, household foreign-currency debt is a systemic issue. The high stock of such mortgage loans contributes to the forint’s vulnerability amid international turmoils. Read more. (Subscription required.)