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Economics: The “new” Pemex Business Plan
MEXICO · Report · 26 Apr 2021

Last April 6, Pemex presented its Business Plan for 2021–2025, an update of the one that was published in mid-2019. And while CEO Octavio Romero assures that its central purpose is to save the company and allow it to reassume its leadership role, what is still sorely lacking is any coherent appro...

The Rupture of the Spending Cap
BRAZIL ECONOMICS · Report · 26 Apr 2021 · 1 response

The reflections of the second wave of the pandemic on the “underprivileged” population had already led to the approval of a new round of the Emergency Relief program, to the tune of R$ 44 billion, which will not be computed for the effect of the spending cap, and in the budget enacted into law on...

Covid reopening may prove too much too early
HUNGARY · In Brief · 26 Apr 2021

From Saturday, April 24, the open-air terraces of bars and restaurants were allowed to open. According to the official explanation, the factor prompting this step was that the number of domestic citizens with at least one shot of Covid vaccine had exceeded 3.5 million or 36% of the whole populati...

Politics: AMLO’s moves to tighten institutional grip
MEXICO · Report · 26 Apr 2021 · 1 response

Just as the Senate was preparing to vote on President López Obrador’s judicial reform package April 15, a lawmaker quietly slipped in a clearly unconstitutional transitory article that would change the composition of the highest judicial bodies in the land. It would extend by two years the terms ...

Turkey Covid Watch - April 26, 2021
TURKEY · Report · 26 Apr 2021

Confirmed cases seem to have reached a peak and began declining this week, as we had surmised last week, though they are still very elevated. Hospitalizations and deaths continue to rise, but should also reach a peak soon given the usual lags between diagnosis and hospitalization. Vaccinations se...

A busy week ahead in Brasília
BRAZIL POLITICS · Report · 26 Apr 2021

This will be a busy week in Brasília. The source of the government’s worries, the Covid Parliamentary Committee of Inquiry (CPI), is expected to be fully installed by Tuesday, April 27. On Friday, April 30, the tax reductions on fuel, meant to appease truck drivers who are unhappy with increasing...

Economic recovery will support tapering of asset purchases
ISRAEL · Report · 26 Apr 2021

* Rates remained stable last week, but the policy statement and macro forecast point to a strong recovery. * The forward guidance statement no longer includes the possibility of “additional tools” or the possibility of zero rates (in the macro forecast). * Asset purchase tapering will de...

Russia launches British telecomms
RUSSIA / FSU POLITICS · In Brief · 26 Apr 2021

On April 26 a Russian Soyuz rocket took off from Vostochny taking 36 UK telecomm and internet satellites into space. OneWeb is a UK company that is working on low orbit satellites. The company is competing against SpaceX to offer fast internet to regions that are currently poorly served.Roscosmos...

Essential CIS Politics: April 2021
RUSSIA / FSU POLITICS · Report · 26 Apr 2021

* US-Russian relations are worsening, with Russia temporarily withdrawing its ambassador and the US imposing more sanctions. * Diplomatic rows have emerged between Russia and the EU countries, notably the Czech Republic – with embassy staff expelled from both sides. * The RUB...

Economic recovery will support tapering of asset purchases
ISRAEL · In Brief · 25 Apr 2021

Highlights:Economic indicators continue to point to recovery In Q121 merchandise imports increased sharply, including consumer goods, raw materials and investment goods. This provides a good co-incident indicator as well as a leading indicator of economic growth. Industrial exports contracted in ...

Hello darkness, my old friend
TURKEY · Report · 25 Apr 2021

Mr. Biden’s declaration of the horrible events of 1915 as “genocide” puts Turkey once again in a dark tunnel, where the end is not visible. This is not a symbolic act, but an earthquake that will spread through fault lines in numerous directions. The politics section of this Weekly is dedicated t...

Biden recognises the Armenian Genocide
RUSSIA / FSU POLITICS · In Brief · 25 Apr 2021

On April 24 the US President stated that the mass slaying of Armenians in the First World War was genocide. The killing was committed by the Ottoman Empire, which is the predecessor of Turkey.Armenia is a former Soviet country and is more in Russia's orbit than any other former Soviet republic. Y...

Russian interest raised in bid to curb inflation
RUSSIA / FSU POLITICS · In Brief · 24 Apr 2021

On April 23 the Central Bank of Russia (CBR) raised the interest rate to 5%. It was 4.5%. This is the second rise since March. Inflation is jeopardizing economic recovery. Inflation is up to 5.8% and the CBR's goal is to keep it under 4%.The government has introduced price controls for particular...

Russia loosens entry requirements for foreigners
RUSSIA / FSU POLITICS · In Brief · 24 Apr 2021

On April 19 Moscow announced the relaxation of rules for foreign citizens visiting the country including Britons. People from 29 countries can come to Russia either directly or via one of the other 29 nations.The 29 nations include Switzerland, Finland, Germany, the UAE, various former Soviet cou...

Russia pulls troops back from Ukrainian Border
RUSSIA / FSU POLITICS · In Brief · 23 Apr 2021

On April 22 Russia announced that it was sending soldiers back to their bases after exercises along the frontier. This included exercises in Crimea. The return to base shall be completed by May 1. The buildup caused widespread condemnation.There had been an uptick in firing across the ceasefire l...

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