Azerbaijan, Baku, July 21 / Trend , U.Ismayilova/
The International Bank of Azerbaijan (IBA) reviews of issuing eurobonds due to the impact of the global financial crisis, Chairman of the Bank's Board, Jahangir Hajiyev said on July 21.
"The world is currently experiencing unfavorable conditions to issue eurobonds," said Hajiyev.
He said at present time it would be correct, as in many countries of the world, to begin preparations for the issuance of sovereign eurobonds.
"Issuance of sovereign eurobonds by the banks, in particular by the IBA envisages additional assessment," said Hajiyev.
In 2009 the IBA can carry out the debut issue of the eurobonds worth $200 million, said earlier the chairman of the bank Vagif Akbarov.
In agreement with the Finance Ministry, the owner of 50.2 percent shares of the bank on behalf of the state, the IBA is willing to place eurobonds on the international capital markets in relationship with the sovereign bonds. As the IBA is half-governmental bank, then it is necessary to "Bench Market" in Azerbaijan that the debut of the eurobond issue will becarried out by the Finance Ministry.
On July 21, the official exchange rate is 0.8041 manat to $1.
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