GlobalSource Partners | Country Insights

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...

Relations between Russia and US at rock bottom over Syria and Crimea

CIS POLITICS · In Brief · 27 Feb 2021

On February 26 Moscow condemned US air strikes on Syria. The attacks supposedly killed Iranian militants. Russia is a stalwart ally of Syria.On February 26 President Biden said that Crimea belongs to Ukraine, and the United States shall never recognize it as Russian land. There has been an increa...

Ukraine receives vaccines from India

CIS POLITICS · In Brief · 27 Feb 2021

On February 23 a consignment of 500,000 doses of AtsraZeneca arrived in Ukraine from India. Ukraine has finally started vaccinating people. Kyiv has refused to purchase Sputnik V, and Western vaccines are too expensive for Ukraine. The EU has a program to provide Eastern European nations with vac...

Finally, the Electric Pact was signed

DOMINICAN REPUBLIC · In Brief · 26 Feb 2021 · 2 responses

Yesterday the National Pact for the Reform of the Electricity Sector 2021-2030 was signed. This Pact aims to “build a agreed vision of the electricity system to guide the actions to be developed in the short, medium and long term for the Dominican Republic to have definitively an efficient, compe...

SAUDI ARABIA: Khashoggi report blames MBS and US imposes travel ban on 76 Saudis

GULF COUNTRIES · In Brief · 26 Feb 2021

The declassified summary of the US National Intelligence report is very brief (500 words). It states “we assess” that MBS approved an operation “to capture or kill” Jamal Khashoggi based on: "His control of decision making in the Kingdom;The direct involvement of a key adviser and members of Muha...

10% of Russian SMEs face closure

CIS POLITICS · In Brief · 26 Feb 2021

On February 24 a government study showed that a tenth of small businesses are about to fold. The business ombudsman conducted the study. The survey was published on RBK. The small business sector is irate that almost all government aid has been directed at major corporations, i.e., those most abl...

Colombia, Mexico, Panama and Venezuela: Quasi-sovereigns in Latin America and the evolving relationship with the sovereign

COLOMBIA · Report · 26 Feb 2021

In our live webinar, Juan Carlos Echeverry, Mauricio Gonzalez, Marco Fernandez and Ruth de Krivoy discuss the risks and opportunities to watch for in the sovereign/quasi-sovereign relationship in Colombia, Mexico, Panama and Venezuela. Our webinar is moderated by Joe Kogan, Head of Latin America...

Armenian Army denounces the prime minister

CIS POLITICS · In Brief · 26 Feb 2021

On February 24 the army issued a statement expressing its lack of confidence in Prime Minister Nikol Pashinyam. The generals said that he was ''incapable of making adequate decisions.'' Pashinyan brought 20 000 admirers onto the streets in a show of force. Pahinyan said that the army top brass' s...

Economic resilience will stoke export growth

CHINA · Report · 25 Feb 2021

Because of the long Chinese New Year holiday, the statistics bureau, as is typical in January, only announced price, financial and PMI data. Producer prices increased fast between June 2020 and January 2021, and finally turned positive. The ex-factory price index of industrial goods rose 1% m/...

Berat Albayrak is not the only problem TL is facing

TURKEY · In Brief · 24 Feb 2021

This morning CBRT was forced to raise required reserve ratios by 200 basis points across the deposit maturity spectrum to defend the TL.As I write these lines, around Istanbul time noon, dollar/TL did not respond to the additional monetary tightening step, which may be because of rumors surfacing...

No policy change, no surprise at all at today's Monetary Council meeting

HUNGARY · In Brief · 23 Feb 2021

At its regular monthly rate-setting meeting today, the Monetary Council concluded exactly as we predicted in our monthly report published yesterday. The market also remained fundamentally unsurprised by the decision.The Council kept all policies unchanged and issued a statement that sounded rathe...

EU imposes sanctions on Belarus

CIS POLITICS · In Brief · 23 Feb 2021

On February 22 the EU imposed sanctions on four Russian officials because of the incarceration of Alexei Navalny.The EU sanctions are less extensive than anticipated. Brussels is leaving the door open to compromise. Navalny's allies urged the EU to target Putin's billionaire cronies. The measures...

Politics: The geography of political violence, Part 3

MEXICO · Report · 22 Feb 2021

As we continue our series documenting how cartels and gangs are stoking all manner of criminal activities throughout the country and the political threat such violence poses to governance in this key election year, we turn our attention to the trends that have led to the pulverization of the once...

Discomfort in the Ministry of Economy and other weekly topics

BRAZIL POLITICS · Report · 22 Feb 2021

The government and congressional leaders expect to decide on the specifics of the new round of emergency stimulus payments this week. To make the program viable, the Senate should vote on the Emergency Amendment on Thursday, February 25, and send it to the House. The House and Senate may define t...

Nornickel will pay USD 2 billion fine and not appeal

CIS POLITICS · In Brief · 22 Feb 2021

On February 18 the mining giant announced that it accepted the fine imposed for a diesel spill in 2020. The company will not contest the fine in court.The owner of the company is Vladimir Potanin. On February 15 Forbes estimated his wealth at USD 30 billion making him the richest Russian.