MERRILL LYNCH NOT TO RECOMMEND BRADIES

Business | May 28, 2001, Monday // 00:00

Merrill Lynch investment bank does not currently recommend purchases of Bulgarian Brady bonds (Bulgarian foreign debt T-bills) due to the unclear political situation on the eve of the general elections, scheduled for June 17, 2001 in Bulgaria. The bank`s Emerging Markets Department focuses on the economic programme of Simeon II National Movement (set up by Bulgaria`s ex-monarch Simeon II). The bank`s experts said that the programme is closely connected with the arrangements Bulgaria has with the IMF. Merrill Lynch paper assesses as positive the possibility for a coalition between the incumbent Union of Democratic Forces (UDF) and the Monarch`s movement.

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