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
Local currency in Canada and over 400 in the United Kingdom. Australia, France, New Zealand, and Switzerland have similar systems. Kenya: Senegal: South Africa: Japan: Hong Kong: Indonesia: Malaysia: Bangladesh [Chandpur Chittagonj Dhaka] Australia: Canada: "See List of Canadian community currencies"<br> Mexico: United States: "See List of community currencies in the United States" Argentina: Brazil: Venezuela: Austria: Belgium: Czech Republic: Denmark: France: Germany: Hungary: Greece: Italy: Latvia: Malta: Netherlands: Russia: Slovakia: Spain: Switzerland: Ukraine: United Kingdom: [[Category:Local currencies| ]] [[Category:Freiwirtschaft]] [[Category:Localism (politics)]] [[Category:Monetary reform]] [[Category:Community building]] Local currency In economics, a local currency is a currency that can be spent in a