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COUNTRY INSIGHTS

Russia bans international LGBT movement
RUSSIA / FSU POLITICS · In Brief · 01 Dec 2023

On November 30 the Supreme Court ruled that the gay rights movement is extremist and therefore illegal. Involvement in such an organization can lead to 6 years in jail. The Orthodox Church welcomed the Supreme Court's judgement.  Any form of advocacy for gay rights is now illegal. Encouragement o...

Hungary will block talks on Ukrainian EU membership
RUSSIA / FSU POLITICS · In Brief · 01 Dec 2023

On November 30 the Hungarian Prime Minister's office stated that it would be wrong to open such talks while Ukraine is engaged in a full-scale war. Hungary is a neighbor of Ukraine. There is an indigenous Hungarian minority in Ukraine. Hungary is more pro-Russian than most EU states and has secur...

Anemic growth, signs of rebalancing
TURKEY · Report · 30 Nov 2023

The Turkish economy grew by 5.9%, y/y, in the third quarter of the year, broadly in line with expectations, while in working-day and seasonally adjusted (WDSA) terms, growth slowed visibly to 0.3%, q/q, after surging in the previous quarter, which, incidentally, has been revised down slightly to ...

Giving it all away, while infuriating everybody
COLOMBIA · Report · 30 Nov 2023 · 2 responses

President Gustavo Petro’s talk about “an economic storm” tries to obscure the true problem Colombia will face for the rest of his administration: an upcoming fiscal storm, caused by factors other than those he cites. Blaming the Fiscal Rule, the Constitutional Court ruling, or the IMF loan repaym...

Russia attends OSCE
RUSSIA / FSU POLITICS · In Brief · 30 Nov 2023

On November 29 the Organization for Security and Cooperation in Europe (OSCE) held its summit in North Macedonia. It was a success for Russia that it was able to send its delegation headed by its foreign minister, Sergei Lavrov.  Some members of the OSCE were so unhappy about Russian attendance t...

The Senate approved offshore funds bill, the vote on the sports betting bill was postponed, the Tax Reform rapporteur may present a voting schedule, and Deputy Forte has not yet submitted his final report on the LDO
BRAZIL POLITICS · Report · 30 Nov 2023

The Senate concluded the vote on the offshore and exclusive funds bill. As there was no change in the text that was approved in the House, it will now go on for presidential sanction. Regarding the online sports betting bill, no agreement was reached. Today, Deputy Aguinaldo Ribeiro (PP-PB), rapp...

Families of Russian soldiers ask for them to get leave
RUSSIA / FSU POLITICS · In Brief · 29 Nov 2023

On November 27 an organization of soldiers' families called "Put Domoi" (''The Way Home'') published a petition asking for soldiers in Ukraine to be given a vacation. Some relatives have put anti-mobilization stickers on their automobiles. The campaign is for the soldiers to be given a break. It ...

A Prelude to the Campaign
VENEZUELA · Report · 29 Nov 2023

April 8, 2024 will be the Venezuelan government’s last chance to act at the International Court of Justice in defense of its rights over the Essequibo region. Even though a clear judicial route exists for addressing the Essequibo conflict, on December 3, the Maduro government opted for calling a...

Bukele powers ahead
CENTRAL AMERICA · Report · 29 Nov 2023

El Salvador is preparing for the February 2024 presidential elections, with President Nayib Bukele already registered to run. His notice revived discussions about the supposed unconstitutionality of his running for a successive term, and several annulment petitions were presented before the Supre...

The economy continued to expand in October
RUSSIA ECONOMICS · In Brief · 29 Nov 2023

Rosstat reported that the Russian economy continued to grow in October as the output of the five basic sectors grew y-o-y by 5.9% and 7.7% in 10M23 and October alone. However, as happened previously on many occasions, this growth appeared uneven across various segments. Agriculture grew by 1.9% a...

Freedoms will drive outcomes in 2024
VENEZUELA · Forecast · 29 Nov 2023

The sanctions relief begun in late 2022 is gradually adding oxygen to the Venezuelan economy. While it’s no panacea, it does translate into higher output for the joint ventures in which Chevron, Eni, Repsol, and Maurel & Prom hold minority stakes, and therefore stronger export revenue and foreign...

Bi-Weekly Economic News Summary
KAZAKHSTAN · In Brief · 29 Nov 2023

Nov 17 Economy Ministry: The draft of the new Tax Code, which is due to come into force in Kazakhstan in 2025, includes the introduction of a two-step scale of personal income tax rates for salaries Ministry of Transport: Kazakhstan is ready to transfer two of its ports - Aktau and Kuryk - to the...

Divergent views on how the war might end
UKRAINE · Report · 29 Nov 2023

The lack of significant land gains in Ukraine's 2023 summer counter-offensive has sparked intensive discussions about a potential stalemate in the war, and the West's vision for its conclusion. General Valery Zaluzhny's essay in The Economist, widely interpreted as an admission that the front has...

The Joint Committee on the ICMS subsidies bill should be installed, the Senate may vote on the sports betting and offshore funds bills, and Deputy Forte is expected to submit his final report on the LDO
BRAZIL POLITICS · Report · 29 Nov 2023

The Joint Committee is scheduled to be installed today to analyze provisional measure 1185/23, which deals with ICMS subsidies. The rapporteur will be Deputy Luiz Fernando Faria (PSD-MG). The Ministry of Finance is negotiating changes to the text. The bill that deals with the taxation of offshore...

Iudex locuta, causa finita…ma non troppo
PANAMA · In Brief · 28 Nov 2023

After a week of demonstrations in front of the Supreme Court building in Panama City, road blockades, and media pressure, on the early morning of Tuesday (a holiday in Panama), the CSJ declared Law 406, which approved the contract between the government and Minera Panama (a subsidiary of Canada's...

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