State Oil - Azerbaijan Denies Plans To Buy Hungary Debt Reuters

Tue Sep 4, 2012 5:34am EDT

* Azeri state acrylic fund, ambassador not allow press talk

* Speculation taken Hungary's discharge of Azeri soldier

* Hungary in search of sovereign investors as IMF tells you drag

BUDAPEST, Sept several (Reuters) - Azerbaijan dismissed mass media reports them blueprints to obtain Hungarian bonds, making Budapest in order to go on lengthy look up new sovereign buyers to support the idea cut uncomfortably higher funding costs.

Local blogs in addition to newspapers had speculated of which Budapest's release associated with your jailed Azeri soldier last week - which in turn contributed Armenia in order to suspend diplomatic interaction together with Hungary - is likely to be connected to a debt sale as well as various other bilateral global financial deal.

But Azerbaijan's ambassador to Budapest instructed some sort of magazine the actual studies were being "nonsensical", while the country's oil fill waived that had such investment decision plans. Budapest acquired likewise denied the particular speculation.

"The state oil fund . is certainly not taking into consideration any expenditure towards personal debt obligations and also some other economic applications around Hungary," them said in a very record about it's website.

Hungarian organization each week Figyelo had reported last 30 days this Azerbaijan might put in 2-3 billion euros connected with it's acrylic export revenues within a specific Hungarian bond issue.

Hungary has become not able to engage global credit debt market segments this coming year due to the huge dividends demanded by way of private investors focused on your government's management in the economy.

It is settling an support offer from your International Monetary Fund (IMF) along with the European Union. But this talks are dragging on, and Hungary's unsecured debt company stated very last thirty day period ?t had been looking at alternate economies for likely debt issuance.

Last week Hungary granted soldier Ramil Safarov to return home, where he was pardoned by simply Azerbaijan's leader Ilham Aliyev. He were being sentenced to help your life around living hell to the 2004 hurting regarding an Armenian policeman through NATO teaching in Hungary.

Hungary stated this acted in compliance with foreign law which Azerbaijan have promised that will uphold Safarov's sentence. While the 2 main nations were throughout mentions building more detailed financial ties, these had been for no reason related to the release in the soldier, that said. ID:nL6E8K3L2Q]

Reuters announced final calendar month coming from Istanbul that Hungary what food was in talks by using Azerbaijan and as well Turkey to help challenge sovereign bonds inside area currencies.

Armenia in addition to Azerbaijan include also been at possibility considering that going that will battle with 1991 over the mainly Armenian Nagorno-Karabakh enclave. A ceasefire has been signed throughout 1994 however brand new cross-border clashes in 2010 have encouraged problems that main hostilities might erupt. (Reporting simply by Krisztina Than; Editing by John Stonestreet)