| One of the most important goals of debt management is to finance the government debt and the central government deficit at low costs in the long run. In order to provide cheap financing, the ÁKK aims at a simple and public issuance policy and the development of a transparent and liquid secondary market. |
Hungary's accession to the European Union and later to the European Monetary Union is also an important challenge for the ÁKK. This requires the development of the domestic government securities market because of an ever stronger competition for investors and the need to develop the market infrastructure. The revision of the conventions on the Hungarian government securities market in 2002-2003 served this purpose.
The new challenge for ÁKK is the task of liquidity management which requires the use of new instruments (very short term discount T-bills, repos) and an active day-to-day operation in the money market.
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