Economy of Hungary public sector spending falling from 62% of GDP to below 50%—the current account deficit was reduced to 2% of GDP, and government debt was paid down to 94% of annual export earnings. The Government of Hungary no longer requires IMF financial assistance and has repaid all of its debt to the fund. Consequently, Hungary enjoys favorable borrowing terms. Hungary's sovereign foreign currency debt issuance carries investment-grade ratings from all major credit-rating agencies, although recently the country was downgraded by Moody's, S&P and remains on negative outlook at Fitch. In 1995 Hungary's currency, the Forint (HUF), became convertible for all current
Currency of Venezuela The various monetary laws from July 12, 1945 on continued to define the monetary unit as the gold bolívar ("bolívar de oro") of 290.323 mg pure gold. It was only October 30, 1974 that the monetary unit was defined simply as "bolívar", with no reference to gold. The bolívar was a very stable currency for a decade after 1964, but by the early 1980s it was in serious trouble. A peg to the US dollar at 14·50 bolívares did not halt the slide. Neither peg, nor crawling peg, nor managed float could keep the bolívar exchange rate under control. It