It helped the currency to appreciate by more than 10% compared to the levels in spring, and also contributed to the significant drop of domestic bond yields, even at longer maturity. I consider the functioning of the government securities market to be a key indicator of market perception on fiscal sustainability.
In this regard, it was particularly favorable that, following a long pause, the government was also able to issue long maturity bonds in forints. While the IMF/EU package provides reliable source of financing, the ultimate goal is obviously to return to market financing, preferably in forints.