March 18, 2020 / 3:22 PM / in 21 days

Hungary imposes blanket moratorium on loan repayments to year-end

BUDAPEST, March 18 (Reuters) - Hungarian Prime Minister Viktor Orban on Wednesday announced a blanket moratorium on loan repayments for all companies and private borrowers until the end of the year to limit the economic fallout from the spread of the coronavirus.

“Private individuals and companies, all private individuals and all companies, will be exempt from principal and interest payments through the end of this year on loans taken as of today,” Orban said in a video on his Facebook page.

He also announced further measures to defend jobs, targeted at the most affected sectors, such as tourism and entertainment among others.

Reporting by Krisztina Than and Gergely Szakacs Editing by David Goodman

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