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Slovakia will receive 2 million doses of Sputnik V
RUSSIA / FSU POLITICS · In Brief · 02 Mar 2021

On March 2 the first batch of the Russian coronavirus vaccine arrived in Slovakia. Moscow is delighted with this commerical and soft power success. Slovakia is an EU country. The EU's vaccine rollout has been notoriously slow.Austria and the Czech Republic are in discussions about buying Sputnik ...

The dangers of deafness to suffering
COLOMBIA · Report · 01 Mar 2021 · 2 responses

Last year’s 6.8% contraction represents, not surprisingly, the worst economic downturn in Colombian history – and only the fourth year in more than a century in which the economy has posted negative results. Though most sectors, especially manufacturing and commerce, followed overall GDP, agricul...

Synthesis of the Brazilian economy
BRAZIL ECONOMICS · Report · 01 Mar 2021

While Brazil is experiencing the worst moments of the pandemic, without any outlook for improvement in the short run, the costs of the alliance of Bolsonaro with the Centrão are starting to appear, without any sign of the claimed benefits to the country. On the contrary, the vestiges of the liber...

Politics: Governability at risk, Part I
MEXICO · Report · 01 Mar 2021

No one ever doubted that this year’s midterm elections would greatly magnify political tensions, especially as the contest begins to hit its stride, with competing camps' getting down to the work of defining one another and their respective candidates with the usual mix of negative and sometimes ...

Main questions about the Emergency PEC and other weekly topics
BRAZIL POLITICS · Report · 01 Mar 2021

In the Senate, the highlight is the vote on the Emergency PEC. In the House, we expect the permanent committees to be installed. Regarding the economy, we highlight the release of the 2020 GDP results on Wednesday. This week's Talking Points: * The Emergency PEC: main questions. ...

Eonomics: February data point to future challenges
MEXICO · Report · 01 Mar 2021

Even as some branches of industrial and service activity continued to pare their losses from the lows of 2020 and the trend remains toward a reopening of activity, GDP contracted -4.3% in the fourth quarter (and -8.2% for 2020), with health the only service sector to show growth. We expect a simi...

​Growth 2020: A Pyrrhic Victory of sorts
TURKEY · Report · 01 Mar 2021

The Turkish economy grew by a somewhat lower than expected 5.9%, y/y, and 1.7%, q/q, in the final quarter of 2020. For the year as a whole, GDP hence grew by 1.8% in 2020, making Turkey one of the two G-20 countries, next to China, that registered positive growth in a devastating, pandemic-hit ye...

Hi-tech services continue to support growth
ISRAEL · Report · 01 Mar 2021

* Hi-tech service exports expanded rapidly in Q420, supporting shekel appreciation. * Rapid growth of employment in the hi-tech sector (high income) is expected to support higher rental prices. * The economy is opening up rapidly, supporting economic growth and lower unemployment. * ...

Improvement in the economy
INDONESIA · Report · 01 Mar 2021

Indonesia has already seen a certain measure of improvement in the economy in the past quarters. While the country experienced a painful situation due to the restrained mobility from the pandemic, which led to a semi-lockdown in Q2 2020, Indonesia has continued to improve, slashing the negative g...

From a bright economic history to the current negative narrative: the case of Panama in 2021-2022
PANAMA · Report · 01 Mar 2021

February´s IMF country report analyzes the Panamanian economy in the context of the approval of the Precautionary and Liquidity Line (PLL) of US$ 2.7 BB. The IMF usually is bullish concerning Panama, and the document follows that pattern, describing its macroeconomic trajectory and its growth pot...

FixPrice prepares London IPO
RUSSIA / FSU POLITICS · In Brief · 01 Mar 2021

On March 1 FixPrice said it is preparing for Russia's greatest foreign IPO since 2014.FixPrice is the country's main chain of discount stores. It has commenced bookbuilding for its IPO. The aim is to raise over USD 1.5 billion in cash to fund new stores in Russia. The company might be worth as mu...

​January Trade Balance surprised on the upside
ARGENTINA · In Brief · 01 Mar 2021

Most market attention will be set today on Alberto Fernandez’s speech during the opening sessions of Congress, which is expected to happen at noon, local time. This said, in this opportunity, we would like to review January’s trade balance published Friday afternoon. Even though the December to F...

Moldova receives first vaccines from Romania
RUSSIA / FSU POLITICS · In Brief · 28 Feb 2021

On February 26 the first batch of coronavirus vaccines were flown to Chisinau. Romania has promised to gift 200,000 doses of its share of the EU vaccine to Moldova. Moldova and Romania are neighbors. They share the same language though Moldova also has Russian as an official language.

Hi tech service exports continue to support growth (and the shekel)
ISRAEL · In Brief · 28 Feb 2021

Highlights of the weekly macro wrap up: The BoI sounds more optimistic Rates and accommodation remained unchanged last week. Nevertheless, the rate announcement sounded more upbeat, in light of rapid vaccinations and opening up of the economy “The fast pace of the inoculation process in Israel in...

Beware the Ides of March
TURKEY · Report · 28 Feb 2021 · 1 response

February started poorly for Mr. Erdogan and his AKP-MHP alliance, turning into a rout by the end of the month. The administration couldn’t deliver any tangible progress on the economy or the COVID-19 epidemic fronts, with bigger defeats occurring in the political arena, where to quote one savvy s...