BBC Radio 4’s Special Edition Dedicated To Armenian Genocide Centenn

BBC RADIO 4’S SPECIAL EDITION DEDICATED TO ARMENIAN GENOCIDE CENTENNIAL

16:19, 07 Apr 2015
Siranush Ghazanchyan

In a special edition of the programme marking the 100th anniversary
of the mass killings of hundreds of thousands of Armenians living
in the Ottoman Empire, BBC Radio 4 Religious Affairs Correspondent,
Caroline Wyatt explores what the events mean for Armenians living
here in Britain.

Twenty-two countries officially recognise the 1915 massacre as
genocide. The Turkish government maintains that while it was a great
tragedy, it was not genocide. We debate the issues with the Armenian
Bishop Vahan Hovhanessian, Geoffrey Robertson QC and Professor
Ayhan Aktar.

We hear the story of journalist Meline Toumani, who grew up an American
Armenian but moved to Istanbul to get to know the country and its
people as a way of understanding what happened to her community.

Bob Walker charts the history of the UK’s Armenian community, visiting
the first Armenian Church in Britain, Holy Trinity Armenian Church
of Manchester, which opened its doors on Easter Day in 1870.

Caroline shares a meal with an Armenian family in London to learn
about how the mass killings of Armenians 100 years ago still has an
impact on 3 generations of the same family.

Also in the programme: the new Bishop of Gloucester, Rachel Treweek,
talks to Caroline about what she hopes to bring to the role as the
first woman diocesan Bishop in the Church of England and the first
woman bishop to sit in the House of Lords later this year.

http://www.armradio.am/en/2015/04/07/bbc-radio-4s-special-edition-dedicated-to-armenian-genocide-centennial/
http://www.bbc.co.uk/programmes/b05pkxz5

Sale Of 20 Percent Share In Gas Distribution Network To Russia’s Gaz

SALE OF 20 PERCENT SHARE IN GAS DISTRIBUTION NETWORK TO RUSSIA’S GAZPROM WAS LEGAL, AD HOC COMMISSION CONCLUDES

YEREVAN, April 7. / ARKA /. The sale of the Armenian government’s 20
percent share in the domestic gas distribution network ArmRosGazprom
(ARG) to Russia’s Gazprom monopoly was legal and in accordance with
law, an ad hoc parliamentary commission concluded.

The Armenian government sold its minority share to pay half of a $300
million debt to Gazprom, which was incurred as a result of subsidizing
the Russian gas price from 2011-2013. The other half of the debt was
written off by the Russian company. Gazprom was also granted 30-year
exclusive rights in the Armenian energy market. The deal made Gazprom’s
the only owner of the network.

The conclusion was announced today by the head of the ad hoc commission
MP Vardan Ayvazyan from the ruling Republican Party of Armenia.

The deal with Gazprom was signed in January 2014 and later was backed
by 77 members of the parliament. Ayvazyan cited this as a confirmation
of the legality of the deal.

Later ArmRosGzprom was renamed Gazprom Armenia. Under the agreement
with the Armenian government, Gazprom is to deliver to Armenia 2.5
billion cubic meters of gas annually. Gazprom Armenia, established
in December 1997, deals with transportation, storage, distribution
and sale of Russian natural gas in Armenia. .-0-

http://arka.am/en/news/economy/sale_of_20_percent_share_in_gas_distribution_network_to_russia_s_gazprom_was_legal_ad_hoc_commission/#sthash.LD8fABgn.dpuf

Ombudsman’s Report To Criticize Digitization Process

OMBUDSMAN’S REPORT TO CRITICIZE DIGITIZATION PROCESS

April 7 2015

The public grievances regarding the radio and television digitization
process have not yet begun to fade. People are concerned about whether
a few months later when we switch-over to digital broadcasting they
will not be able to watch most of the TV channels on their old model
TV sets, hence they have to spend additional funds for acquisition
of decoding devices. This issue is also covered in the RA Ombudsman’s
annual report. The document reads on this issue, “Insufficient public
awareness on radio and television digitization process, as well as lack
of sufficient guarantees for socially vulnerable people jeopardizes
the rights thereof to freedom of information.” Aravot.am inquired
from the Chairman of Committee to Protect Freedom of Expression, Ashot
Melikyan, about what revisions are conducted by the public officials
pertaining to solving the problem, especially since these issues were
addressed in the Ombudsman’s report, which means that there are risks
in this area related to human rights violations, Mr. Melikyan replied,
“A political decision has been made that no provincial TV stations will
be shut down. The government is preparing a bill, according to which
the transition deadline of shutting down the analogue broadcasting is
postponed by six months. It will be extended to another half a year,
until January 1, 2016â~@³. Note that the main reason for protraction is
caused by yet unresolved social problems so that they will be able to
manage the process of delivering free decoding devices, as well as to
ensure the access of multiplexes to the market. Ashot Melikyan is sure
that the solution to given problems of is up to the RA international
obligation, and, this way or another, all these issues need to be
resolved. “It’s another matter that as per the obligations, they do
not accomplish it on time, but relevant entities are working on the
lists of vulnerable people to give a start to the process.” Note
that in compliance with the government decision, a tender should
be announced to import decoders to the country by the number of
vulnerable people. Ashot Melikyan noted that necessary legislative
amendments are required. “In compliance with the law on Television
and Radio, it is not possible to solve these technical issues, for
instances, the access of multiplexers to the market is not regulated
by this law. Therefore, the government officials assure that our
submitted bill underlies their elaborated bill, which will regulate
these issues.” Note that the bill was submitted by the Committee to
Protect Freedom of Expression, the Yerevan Press Club and the Center
for Media Initiatives. It is now in the National Assembly and based
on this, the Government of Armenia is elaborating a new bill. To our
question of how to avoid the violations of people’s right to receive
information, Ashot Melikyan replied, “Digitization should not cause
any family remain devoid of receiving digital signals and the right
to receive information on TV. It is also up to the RA international
obligation and they are just obligated to provide it. This approach is
also provided for in the digitization concept paper adopted in 2009.”

Tatev HARUTYUNYAN

Read more at:

http://en.aravot.am/2015/04/07/169618/

La Tradition Des Oeufs De Pâques Respectee Par Les Jeunes Scouts Du

LA TRADITION DES OEUFS DE PÂQUES RESPECTEE PAR LES JEUNES SCOUTS DU HOMENETMEN DE VALENCE – PHOTOS

VALENCE (DRÔME)-COMMUNAUTE

Lundi de Pâques, plus d’une centaine de personnes etaient presentes a
la Maison de la Culture Armenienne de Valence pour le traditionnel jeu
des oeufs de Pâques auquel les Armeniens vouent une veritable passion.

Les jeunes scouts Armeniens du Homenetmen invitaient le public a
partager quelques specialites armeniennes avec un spectacle realise
par ces memes jeunes du Homenetmen. Zareh Gharibian le president du
Homenetmen Valence a tout d’abord remercie les nombreux parents et
amis qui etaient venus encourager les jeunes. Dans la salle quelques
personnalites de la communaute telles que Georges Ishacian responsable
de la FRA Dachnaktsoutioun de Valence, Georges Rastklan (president
de l’Amicale d’Urfa de Valence), Krikor Amirzayan (president de
l’association Armenia). Tous trois etant co-presidents du C24 (Comite
du 24 Avril) Drôme-Ardèche. A noter egalement la presence de Nazo Alain
Jinbachian president de la Maison de la Culture Armenienne de Valence
et du chanteur Raffi Ardzivian. Les jeunes scouts ont entonne l’hymne
national armenien. Puis entre chants patriotiques, comedies et jeux,
ont diverti le public. Puis ce dernier fut invite par Zareh Gharibian,
Garo Stepanian et Francois Mikho les responsables du Homenetmen Valence
prendre part au traditionnel jeu des oeufs colories en rouge, a casser.

Krikor Amirzayan a Valence (Drôme)

mardi 7 avril 2015, Krikor Amirzayan (c)armenews.com

http://www.armenews.com/article.php3?id_article=109963

Une Delegation Francaise Prochainement A Erbil Pour Evaluer Les Beso

UNE DELEGATION FRANCAISE PROCHAINEMENT A ERBIL POUR EVALUER LES BESOINS MILITAIRES DES KURDES

FRANCE

La France va depecher une “delegation de haut niveau” au Kurdistan
irakien pour “mieux evaluer” sa collaboration militaire avec les
autorites kurdes d’Irak, a-t-on appris mercredi auprès de l’Elysee,
a l’issue d’une rencontre entre Francois Hollande et une delegation
de Peshmerga.

“Une delegation (francaise) de haut niveau destinee a mieux evaluer
notre cooperation et les besoins militaires qui ont ete exprimes
durant cette rencontre sera envoyee dans les prochaines semaines a
Erbil”, a-t-on declare de meme source, precisant que les Peshmerga
(combattants kurdes, NDLR) avaient exprime au president francais
“des besoins en munitions, armement et formation”.

“Le president de la Republique (Francois Hollande) nous a exprime son
accord pour nous aider et, bientôt, une delegation francaise va se
rendre dans ce but au Kurdistan (irakien)”, a confirme Mustafa Qadir
Mustafa, ministre des Peshmerga au sein du gouvernement regional du
Kurdistan d’Irak, sur le perron de l’Elysee.

“Les Peshmerga sont en première ligne de la guerre contre Daech
(acronyme arabe du groupe Etat islamique)”, a-t-il fait valoir a
l’issue de cet entretien auquel assistait egalement le ministre de
la Defense Jean-Yves Le Drian et le chef d’etat-major particulier du
president de la Republique, le general Benoît Puga.

“Grâce a la liberation d’une partie des territoires occupes par Daech,
près de 200.000 refugies (sur 1,5 million) ont pu retourner chez eux”,
a-t-il encore souligne.

“C’est pourquoi (…) nous demandons aux allies de nous aider beaucoup
plus sur le plan militaire et de nous livrer des armes pour que nous
puissions vaincre les forces de Daech dans les plus brefs delais et
liberer la region”, a enchaîne le ministre des Peshmerga.

Les Peshmerga ont demande a la France la livraison notamment d’armes
anti-chars (ils ont pour l’instant recu trente missiles anti-chars
Milan de l’Allemagne), des munitions et des equipements de vision
nocturne, a precise a l’AFP un participant a la reunion, qui a demande
a rester anonyme.

La France a envoye depuis l’ete dernier plusieurs dizaines de membres
des forces speciales afin de servir d’instructeurs militaires auprès
des Peshmerga.

“Nous n’avons pas besoin de soldats ou de forces terrestres, mais
d’armes lourdes modernes et de logistique” a ajoute peu après Mustafa
Qadir Mustafa au cours d’une conference de presse. “La France est
l’un de nos meilleurs allies dans cette bataille, que nous menons au
nom du monde entier”.

Avant leur rencontre a l’Elysee la delegation kurde, composee de
cinq generaux et du ministre, s’est recueillie devant les locaux de
Charlie Hebdo et de l’Hyper Cacher.

“Nous nous sommes rendus sur les lieux où les actes terroristes ont eu
lieu a Paris au mois de janvier. Pour nous, les victimes du terrorisme,
qu’elles soient au Kurdistan ou en France, sont les memes”, a declare
le ministre des Peshmerga. “Nous faisons tous face a un terrorisme
international qui est un danger pour tous les Etats. Ces terroristes
sont loin de toutes les valeurs humanistes. Les evenements qui ont
eu lieu a Paris en sont la preuve.”

mardi 7 avril 2015, Stephane (c)armenews.com

My Turn: The Armenian Genocide, 100 Years Later

MY TURN: THE ARMENIAN GENOCIDE, 100 YEARS LATER

Concord Monitor, New Hampshire
April 5 2015

By JANE WINGATE
Sunday, April 5, 2015

April 24, 1915: Armenians the world over – those in the diaspora,
those in Armenia, and even those Armenians in Turkey who survived the
Ottomans’ genocide of the Armenians and became, if only outwardly,
Turkified – mark that date as the start of the genocide.

For centuries, the Ottoman Turks had imposed restrictions on Armenians
and other Christians. In 1894-1896, under Abdul Hamid, 200,000 to
300,000 Armenians were slaughtered.

Then in April 1915, Turkey’s minister of the interior, Talaat, set
in motion a plan to rid the Ottoman Empire of all the Armenians. On
April 24, Talaat rounded up and killed Armenian intellectuals and
community leaders in Constantinople. Over the next several years,
half the 3,000,000 Armenians in the empire were killed.

My father was a first-generation Armenian-American whose parents came
to this country in the late 19th century, barely escaping the massacres
of 1894-1896. They settled in Watertown, Mass., along with many other
Armenians. My grandparents’ marriage was arranged by a matchmaker.

My father married an odar (a stranger, an outsider). My mother was a
child of French-Canadian immigrants, making her also first generation.

Both my father and my mother were eager to assimilate us kids, so
we never learned either French or Armenian. I have no memory of my
father’s father, and only one of my father’s mother, from when I was
six. She (squat, dark, dark clothes, hair in a bun, slightly scary)
and I were seated next to one another on a sofa. She pinched my cheek
and said, “You love me, Janie?” I nodded furiously in assent.

In 1960, 10 percent of my high school class of 350 were Armenians. In
the main, they were excellent, serious students – pressured by their
parents to succeed academically, and to further their studies in
college. I had several Armenian friends, all brainy, but in general,
I dismissed Armenians as crazy, never able (in my father’s words)
“to shut up about the genocide.”

My father’s medical offices were on the ground floor of our three-story
town house on Mt. Auburn Street, the main drag in Watertown. The
trolleys droned back and forth along the rails in the middle of the
street, connecting Harvard Square in Cambridge to Watertown Square.

The patients’ waiting room was not closed off from the two upper floors
where we lived, so we five kids had to walk right through it, up the
broad stairway to our living quarters, followed by the patients’ eyes.

When my father held office hours, my mother was constantly telling
us to be quiet, “because there are patients downstairs” – not that
we needed reminding. When we could get away with it, we crept down
the few top steps and stared right back at them.

My father had a fair number of Armenian patients, some who survived
the 1915 genocide, others the massacres of 1895. Now and then he would
talk to them in Armenian, and once in a while I heard him scold them,
in English, “For Christ’s sake, forget about the genocide. You’re
here now.”

I recall just one time he talked about the genocide, referring to
a photograph that he said hung in many Armenian homes. It was a
photograph of bodies in one of the killing fields in Turkey. He said
“An arm there, a leg there, even heads cut from their bodies.” In
later years, I came across that photograph, and it triggered in me
a need to learn about what happened to my ancestors.

So I read everything I could find about the genocide, and when I was
exhausted and could take no more, I wrote a piece that ran in Ararat
magazine. The piece, “Shallow Roots: The Armenian Disconnection,”
elicited a number of letters sent to me via the magazine. Many of the
letters were from first-generation Armenian-Americans, including some
scholars. One was from a fellow who, like me, was also a half-breed –
a second-generation Armenian-American, whose mother married an odar.

He said his grandmother, Harkine Hagopian, a genocide survivor,
was still living, in Indianapolis, where she and her husband settled
after coming to this country.

Things happened quickly after that: I flew from Maryland to
Indianapolis twice, was picked up at the airport by one of Harkine’s
daughters, and brought to meet Harkine Pilibosian Hagopian, and over
the course of nine hours, I recorded her account of her deportation.

Harkine’s story

As a girl of 12, living a comfortable middle-class life with her
extended family over her father’s barbershop and dentistry practice,
Harkine was about to graduate from junior high in Adabazar, Turkey,
80 miles east of Constantinople. Then word came down from Talaat
that all Armenians were to leave their homes, and be ready to do so
in three days, taking only what they could carry with them.

It was a moving – and humbling – experience, listening to Harkine
talking about her 2,000-mile deportation into the Syrian desert,
impressively remembering all the stops her convoy made along the way.

First they were rammed into cattle cars, then let out at Konia, where
there were other raggedy, desperate deportees, camping in wretched
little tents, the overwhelming stench of feces everywhere.

Then the Turks moved them on, mostly on foot. As long as he had
money, Harkine’s father, Garabed, could buy them rides in ox carts,
or on donkeys. But soon all were walking. Many ended up in Raqqa,
which Harkine called “the last stop before Deir el Zor.” (Raqqa,
then a dusty desert town, is now claimed by ISIL as its capital.) In
Deir el Zor, the final killing fields for those who survived the long
marches, thousands were crammed into caves and burned alive.

It was in Raqqa that Harkine, along with her sister, her father,
and her grandmother were “saved” by an Arab, Mehmoud Ali, who offered
them protection, provided Harkine’s sister, Arshaloys, agreed to be
the third wife in his harem. Even though unwilling, Arshaloys agreed,
and was called Jemileh – “Beautiful” – by Mehmoud Ali.

During the deportation, Harkine’s mother and her uncle died. Harkine
and her father contracted typhus, and barely survived. And later,
in Raqqa, her sister died from syphilis. Before that, Harkine was
married off to Misak Hagopian, an older man from Everek, whose wife
and children were killed in the genocide. He owned the town’s oven,
and baked bread free for the town’s Muktar (mayor), who in return
took Misak under his wing. Harkine, then only 15, resisted Misak’s
proposal, but seeing no other alternative, she agreed, and they were
hastily married at night, in the dark of Misak’s lodgings. Harkine
had a baby by Misak, and shortly after her sister died, Harkine’s
baby died, likely in the 1918 flu pandemic.

Reawakening

I laid aside the nine hours of tapes, not sure what to do with the rich
material. Finally, in the late 1990s, I turned Harkine’s story into
a screenplay, first calling it Aksor (Exile), then The Luckiest One,
and then set about trying to find an agent. In time, the Charlotte
Gusay agency expressed strong interest, even calling a couple of
times to let me know it was still under consideration.

Eventually, without explaining why, they dropped it. Discouraged,
I laid aside the script and turned to other projects.

In the late 1980s and into the 1990s, Leo Hamalian – then editor of
Ararat magazine – and I had a running snail-mail correspondence. Leo,
a generous, patient teacher and fine editor, gave me writing tips,
and always let me have the final word in all the pieces I sent him.

In one of his last letters, Leo said Armenian culture and literature
were about to explode. He was right about that, and now we are seeing
a huge surge, since this April marks the 100th anniversary of the
start of the genocide.

In a speech in which she talks about this revival of interest,
the Armenian-American filmmaker, Carol Garapedian (Screamers),
says that this reawakening is now possible because the second and
third generations of Armenians have established themselves, have
made a name for themselves, are now secure and confident, and able
to address the genocide through the arts.

And they are eager to do so, acutely aware that Turkey still denies
the genocide, and that our Congress, knuckling under to Turkey, our
“strategic” ally, has yet to officially recognize it.

We shall see what April brings.

(Jane Wingate lives in Farmington.)

http://www.concordmonitor.com/opinion/16322456-95/my-turn-the-armenian-genocide-100-years-later

Lavrov And Nalbandian To Discuss Russian-Armenian Relations And Kara

LAVROV AND NALBANDIAN TO DISCUSS RUSSIAN-ARMENIAN RELATIONS AND KARABAKH

Vestnik Kavkaza, Russia
April 6 2015

6 April 2015 – 3:17pm

Armenian Foreign Minister Edward Nalbandian will visit Moscow on
April 7-8 and hold talks with his Russian counterpart Sergei Lavrov,
the Russian Foreign Ministry said.

The two sides will discuss relevant issues of bilateral cooperation
and the international agenda, foreign policy coordination, the UN,
OSCE, Black Sea Economic Cooperation Organization (BSEC) and other
multilateral forums. They will also exchange views on the issue of
a settlement of the Nagorno-Karabakh conflict.

The Russian foreign ministry said that “fruitful cooperation has
been established between Moscow and Yerevan on the main global and
regional issues.”

“It is hoped that the visit of the Armenian foreign minister to
Russia will become an important event in further developing the
bilateral foreign policy dialogue, promote the strengthening of the
Russian-Armenian allied partnership,” RIA Novosti cited the Russian
Foreign Ministry.

http://vestnikkavkaza.net/news/politics/69051.html

iwitness: large-scale public art installation in Los Angeles

Los Angeles County Mayor Michael D. Antonovich &
The Lucie Foundation present
An Official MOPLA exhibit

iwitness: Public Art Installation

Artists: Ara Oshagan and Levon Parian
Architect: Vahagn Thomasian

April 25 – May 31, 2015

At The Music Center & Grand Park

200 N. Grand Ave. Los Angeles, CA 90012 // (213) 972-8080

Open daily from 5:30 am to 10 pm
Opening Saturday, April 25th from 5-8 pm

Supported by the Chitjian Foundation

A project by The Genocide Project

iwitness is a large-scale public art installation by artists Ara
Oshagan and Levon Parian and architect Vahagn Thomasian on three
levels at the Music Center and Grand Park in downtown Los Angeles.

Sponsored by Los Angeles County Mayor Michael D. Antonovich and the
Lucie Foundation, iwitness will be the first ever public art
installation at Grand Park. The installation is also a featured
exhibit of the Lucie Foundation’s Month of Photography in Los Angeles
photo festival ().

iwitness installation consists of an inter-connected network of
towering asymmetrical photographic sculptures wrapped with massive
portraits of eyewitness survivors of the Armenian Genocide of
1915. The sculptures have no right angles and their irregular angular
shapes speak to an unbalanced world, continually at risk of war,
ethnic cleansing and genocide=80’crimes against humanity that the
Genocide survivors have witnessed with their own eyes. They range in
height from eight to fifteen feet and at night are illuminated from
the inside, like lanterns.

iwitness is a temporary memorial to the Armenian Genocide centennial
commemorated this April by Armenians worldwide. The first genocide of
the 20^th century was a blueprint for the numerous genocides that
followed, from the Holocaust, Cambodia, and Rwanda to Bosnia, Darfur,
and Syria today. The effects of the brutal trauma as well as Turkey’s
continued denial of the facts are still felt today, 100 years and many
generations later.

The installation pays homage to these resilient, courageous and
industrious men and women who, against all odds, survived the Turkish
government’s systematic attempt to annihilate them. Most all survivors
in the series are Los Angeles area residents who fled the destruction
in their homeland to re-establish new lives in the U.S. and in a
vibrant global diaspora. They include:

* Emmy-nominated filmmaker Michael J. Hagopian of Thousand Oaks, who
survived because his mother hid him in a mulberry bush.

* Hampartsoum Chitjian of Los Angeles, who was saved by a blind
Kurdish man.

* Hayastan Terzian of Pasadena, whose family was saved by the
U.S. Consul Leslie Davis stationed near her hometown.

* Sam Kadorian of Van Nuys, who was left for dead under a pile of
decomposing bodies and survived on his wits, courage and will to
live.

Each of these survivors implore us to hold perpetrators of genocide
and mass atrocity accountable, no matter where it occurs and against
whom, and to take a strong stand for worldwide peace and tolerance.
Major funding from the Hampartzoum & Ovsanna Chitjian Foundation

Copyright © 2015 Ara Oshagan Photography, All rights reserved.

www.monthofphotography.com

System Of A Down Kicks Off Tour To Commemorate 1915 Armenian Genocid

SYSTEM OF A DOWN KICKS OFF TOUR TO COMMEMORATE 1915 ARMENIAN GENOCIDE

Al Jazeera America
April 6 2015

Rock band will play first-ever show in Armenian capital to mark 100th
anniversary of mass killing of Armenians

April 6, 2015 8:48AM ET

The American rock band System of a Down kicks off an international
tour on Monday in which it will perform its first concert in Armenia
to commemorate the 100th anniversary of the genocide there, according
to Rolling Stone magazine.

The band, whose four members are of Armenian descent, will perform
on April 23 at Republic Square in Armenia’s capital city of Yerevan
as part of its Wake Up Souls tour, the magazine said.

“This is something that transcends the music,” said drummer John
Dolmayan during an April 1 conference call with reporters. “This is
more important than a next System of a Down album. This is something
that is far-reaching and even bigger than the Armenian genocide itself
… We want to help prevent what happened to the Armenians happening
to other people.”

The band said it hoped to raise awareness of the 1915 genocide in which
Ottoman Empire executed an estimated 1.5 million Armenians, a minority
population living in the borders of what now constitutes Turkey.

April 24 is the day Armenians mark as the beginning of the genocide,
in which the Ottoman Empire arrested hundreds of Armenian intellectuals
and later executed them, according to the New York Times.

Turkey has rejected historians’ claims about the genocide, and System
of Down singer Serj Tankian told Rolling Stone that “the denial is
a spit in the face” of Armenians.

“It stays with you,” Dolmayan told Rolling Stone. “”It’s still with
me today, because of the stories that we did hear [from our families].”

Al Jazeera

http://america.aljazeera.com/articles/2015/4/6/system-of-a-down-to-commemorate-armenian-genocide.html

Appetite For Emerging Market Debt Proves Resilient

APPETITE FOR EMERGING MARKET DEBT PROVES RESILIENT

06/04/15

A resurgent dollar and the drop in global commodity prices have,
with a few rare exceptions, roiled emerging markets over the past
few months. But there’s one corner of the EM universe proving to be
surprisingly resilient: debt.

Some $122.4bn in international bonds have been issued by emerging
countries so far this year, according to Dealogic.

While this is lower than the $151bn raised during the same period
in 2014 and is the asset class’s weakest start in four years, it’s
nonetheless a strong showing given the amount of uncertainty and
nervousness around emerging markets.

Armenia, Montenegro, Bulgaria and Colombia are among the countries
that have successfully tapped the market in recent weeks, despite
anxiety over EM’s increasing vulnerability to capital flight and
their falling foreign reserve levels.

The issues were met with strong demand and, in the case of Colombia,
the Andean country managed to lock in the lowest rate ever rate for
a 30-year bond, with a coupon of 5 per cent.

As in the years past, demand for EM debt remains overwhelmingly driven
by the hunt for returns.

Even at 5 per cent, the yields on Colombia’s long-dated paper can be
seen as an attractive alternative when compared to those found in
the developed world, which range from -0.1 per cent for the German
5-year to 2.56 per cent for the US 30-year note.

The resilience in the level of issuance is all the more striking
considering the collapse in bond sales from traditional heavyweight
issuers such as Brazil and Russia.

In Latin America, issuance is down more than 80 per cent to $29.7bn
so far this year compared with last, according to Dealogic.

This is largely thanks to the absence of Brazilian names, as the
country reels from a corruption scandal surrounding state-controlled
oil major Petrobras.

Issuance for the EMEA region (Europe, Middle East and Africa) has
also struggled, falling to $36.7bn from $44.1bn, as Russia struggles
with western sanctions imposed on it for its involvement in Ukraine.

Asia-Pacific is the bright spot, with issuance up from $53.2bn to
nearly $56bn.

http://www.ft.com/fastft/303563/em-bond-investors-unfazed-dollar