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Why does Azerbaijan need Hungarian stocks

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  • Why does Azerbaijan need Hungarian stocks

    Why does Azerbaijan need Hungarian stocks

    13:55 25/08/2012 » Daily press


    `Golos Armenii' has published a material with the following title,
    `Why does Azerbaijan need Hungarian stocks?' which reads:

    Azerbaijan is looking to buy Hungarian government bonds of 2 to 3 year
    maturity, on a scale of EUR 2 to 3 billion, Hungarian weekly FigyelÅ`
    learned from an Economy Ministry source.

    The currency of the debt and issue is not clear from the article; the
    bonds would be probably denominated in Azerbaijani manat. Turkey might
    also involved in the deal but most likely in an intermediary role
    only. The issue is seen as delivering benefits to both Hungary and
    Azerbaijan. Importantly, the transaction might possibly precede an
    agreement between Hungary and the EU/IMF, something that could create
    uncertainty among Western investors as to whether Hungary's government
    is genuinely committed to reaching a deal with the international
    organizations.

    Source: Panorama.am

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