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
Yuan (currency) Yuan (currency) The yuan (; sign: ¥; ; ) is the base unit of a number of former and present-day currencies in Chinese. A "yuan" () is also known colloquially as a "kuai" (; originally a lump of silver). One "yuan" is divided into 10 "jiao" () or colloquially "mao" ( "feather"). One "jiao" is divided into 10 "fen" (). Today, it usually refers to the primary unit of account of the renminbi, the currency of the People's Republic of China. It is also used as a synonym of that currency, especially in international contexts – the ISO 4217 standard