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COUNTRY INSIGHTS

​Regarding the recent disturbances in several cities in Chile
CHILE · In Brief · 21 Oct 2019

The impact on financial markets so far has been limited. At 10:50 am the Chilean peso depreciated about 2% against the dollar, in a context in which the exchange rate in several other countries were also increasing, although by somewhat smaller magnitudes. Short-term rates fell 6bp and longer-ter...

The PLD is formally divided
DOMINICAN REPUBLIC · In Brief · 21 Oct 2019

Last night, the PLD was formally divided. In a televised speech, former President Leonel Fernández announced his resignation as President and as a member of the PLD. In the speech, Fernandez, who served as President three terms, used very hard qualifications against President Medina and his group...

Russia steps up nuclear weapons tests
RUSSIA / FSU POLITICS · In Brief · 21 Oct 2019

Over the past week Russian nuclear submarines have been conducting drills. Russia is keen to let NATO know that as Trump cancelled the INF the Russians can respond. President Putin was present to witness the exercises. The exercises are called Grom 2019. The government eagerly released press stat...

Growth, international economy and reforms
BRAZIL ECONOMICS · Report · 21 Oct 2019 · 1 response

The discussions at the annual IMF meetings always stimulate improvement of scenarios and forecasts. During the last one, the consensus was that the global economy would continue decelerating, largely due to the risks from geopolitical conflicts, the US-China trade war and the Brexit. Hence, the g...

​Gulf weekly: Putin visits, Aramco postpones, Divided Zone restart nears
GULF COUNTRIES · Report · 20 Oct 2019

Global attention was focused on the Turkish invasion of Northern Syria, where the US has negotiated a temporary ceasefire but Russia may have a bigger role in determining the longterm term outcome. By chance this happened in a week when Putin was visiting Saudi and the UAE, both of which are deep...

​Tourist arrivals fall for the fourth consecutive month
DOMINICAN REPUBLIC · In Brief · 20 Oct 2019

Official figures of the arrival of tourists by air indicate that the bad moment of tourism is being longer than expected. In September, the total number of arrivals fell by 50 thousand (17%) compared to September 2018. It was the fourth consecutive month in which arrivals declined compared to las...

Brace for an extra eventful week
TURKEY · Report · 20 Oct 2019

The “ceasefire” protocol signed between US VP Mike Pence and President Erdogan was dead on arrival, as parties could not even agree on the definition of the safe zone. Both sides have enough ammo to claim by the deadline (Tuesday, October 22, midnight) the ceasefire agreement has been violated, a...

Ukrainian bank stays in public hands
RUSSIA / FSU POLITICS · In Brief · 20 Oct 2019

A London court ruled that PrivatBank can pursue claims against its former owners Ihor Kolomoisky and Gennadiy Bogolyubov. The two men have had USD 1.9 billion frozen worldwide. They have failed to have this asset freeze overturned. The news is welcome in Ukraine just as the country is negotiating...

CHLE : Massive protest and state of emergency declared
CHILE · In Brief · 19 Oct 2019 · 1 response

On Friday night Sebastián Piñera declared a state of emergency for Santiago, following the worst riot Chile’s capital has seen since the return to democracy in 1990. Several buses and nineteen metro stations were burned, stores and banks looted, and the headquarters of Enel, an energy company, se...

Peace talks between Ukraine and Russia face obstacles
RUSSIA / FSU POLITICS · In Brief · 19 Oct 2019

Despite the Steinmeier Formula peace talks between Russia and Ukraine are ongoing. Over 10 000 people protested against the formula in Kyiv on October 14. Ukrainian Foreign Minister Vadym Prystaiko said that the negotiations in Normandy in November will be the final opportunity to implement the M...

South Africa’s Integrated Resource Plan 2019-2030 finally released
SOUTH AFRICA · Report · 18 Oct 2019

Following the Cabinet’s approval of the Integrated Resource Plan (IRP) yesterday, Gwede Mantashe (Minister of Mineral Resources and Energy) announced the energy strategy earlier today. This policy blueprint for the electricity sector clarifies a proposed energy mix for the country until 2030.

Russian Audit Chamber says draft budget is far too optimistic
RUSSIA / FSU POLITICS · In Brief · 17 Oct 2019

The Russian Audit Chamber published a damning analysis of the 2020-22 draft budget on October 11. The Audit Chamber said that the growth forecast is pie in the sky. Claims of rising incomes are bogus and spending plans are unrealisticThe draft federal budget is predicated on a GDP growth of 1.7% ...

Eskom disappoints the nation as it implements unexpected load shedding, while the nation waits to learn about its future
SOUTH AFRICA · Report · 17 Oct 2019

During his opening address at the Financial Times Africa Summit in London earlier in the week, President Ramaphosa declared that the government would soon give a deliberation on how the ailing power utility’s (Eskom) debt would be dealt with. As such, Public Enterprises Minister Pravin Gordhan sp...

The long overdue IRP approved by the Cabinet to be released on October 18 - but will it create certainty in the energy sector?
SOUTH AFRICA · Report · 17 Oct 2019

Electricity in South Africa (SA) is exclusively provided by the state-owned Eskom, supplying close to 95% of the electricity in the country – which is about 45% of Africa’s total electricity generation. Moreover, SA’s power generation is predominantly dominated by coal as well as nuclear energy (...

Election results will raise political pressure on Fidesz
HUNGARY · Forecast · 17 Oct 2019

In the local government elections on October 13, Fidesz reached an unexpectedly poor result, losing control over Budapest and around half of major cities, while doing very well in rural areas. This will not change the power structure at the national level, as Fidesz continues to have an impressiv...

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