Azerbaijani state oil fund SOFAZ has no plans to buy Hungarian securities or other financial instruments, the company said in an official statement late Monday, local news portal azernews.az reports.

Reports on a possible purchase of Hungarian securities by Azerbaijan came after Hungary released Azerbaijani officer Ramil Safarov to his home country after being convicted of murder.

SOFAZ said it was necessary to clarify the issue regarding such false information.

Hungary needs to refinance EUR4 billion in foreign currency debt this year, but officials have repeatedly said no foreign currency issuance would take place until there is an agreement on a financial package with the International Monetary Fund and the European Union.

The package would secure a safety net for Hungary in troubled times and is widely expected to decrease debt refinance costs.

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