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President Vizcarra is ousted
PERU · In Brief · 09 Nov 2020 · 2 responses

After a tense impeachment process that started on the morning of November 9, Congress voted by 105 votes, 19 against and 4 abstained, to oust President Martin Vizcarra. President Vizcarra was investigated by the Attorney General Office for corruption while he was Moquegua’s Governor, a small Stat...

Politics: A tall order for the new public security head
MEXICO · Report · 09 Nov 2020

With Alfonso Durazo’s departure from the Ministry of Public Security and Citizen Protection (SSPC) to run for governor of his home state, the first chapter of President López Obrador’s security policy has come to an end. But the next chapter may well prove as ineffective as Durazo’s tenure, in wh...

Recovery of Industry: Domestic Production and Imports
BRAZIL ECONOMICS · Report · 09 Nov 2020

Brazil’s industrial output grew in September and is 2% above the level observed in December 2016, an average increase of 0.6% per year in the period. It was the fifth consecutive month of expansion, and unlike many countries, Brazil has already recouped the loss accrued in March and April. But is...

Bolsonaro's Brazil in the Biden era and other weekly topics
BRAZIL POLITICS · Report · 09 Nov 2020

This is the final week of the electoral campaign ahead of the municipal election, which will take place on November 15. For this reason, there will be no legislative activity in Congress this week. Congress’s decision on the extension of payroll tax exemptions should be published in the Official ...

Some thoughts on the last 48 hours
TURKEY · Report · 09 Nov 2020

We have witnessed dramatic changes in economic management over the past 48 hours or so, with the replacement of CBRT Governor Murat Uysal by the former Finance Minister Naci Agbal, followed up by the very strangely executed resignation of the Treasury and Finance Minister Berat Albayrak. At the t...

Vaccine impact on the Gulf's economy and markets
GULF COUNTRIES · Report · 09 Nov 2020

The renewed hope for effective vaccines is a strong boost for the region, including through higher oil prices and increased tourism, and the Gulf should be at the forefront in rolling out vaccines. Bonds will likely continue rallying but volatility will set in after the initial surge, when doubts...

Economics: Energy policy pressured on all fronts
MEXICO · Report · 09 Nov 2020

Pemex presented its results for the third quarter of 2020 on October 28. In essence, they reveal a deepening of the company’s extended operational and financial decline. Its gas and oil output continued to fall, most of the oil fields it has prioritized for development have significantly underper...

The fiscal deficit is expected to reach 12% of GDP this year
ISRAEL · Report · 09 Nov 2020

The fiscal deficit in October reached 10.1% of GDP (LTM) and is expected to increase to 12% by end-year; pressure for higher yields will continue. Economic indicators point to a gradual recovery as the second lockdown is being lifted slowly. Domestic consumption is being supported by the limited ...

Partial Covid-lockdown has been just announced
HUNGARY · In Brief · 09 Nov 2020

Earlier this morning, PM Orbán has announced a substantial tightening of current Covid restrictions, in response to the rapid spreading of the virus and the growing pressure on the domestic health care sector. The new regime, which is to start at tomorrow at midnight and remain in place for 30 da...

The fiscal deficit is expected to reach 12% GDP this year
ISRAEL · In Brief · 08 Nov 2020

Highlights: Economic indicators continue to point to a gradual recovery The weekly credit card purchases have increased by 20% in the past three weeks (through 3.11) as the economy has opened up, but this data is unfortunately not seasonally adjusted. Data from the CBS (sa) reveal that credit car...

At the proverbial fork, at last?
TURKEY · Report · 08 Nov 2020 · 1 response

VERY IMPORTANT NOTE TO OUR READERS: As we were ready to send this report out to NYC for distribution, Minister Berat Albayrak is claimed to have resigned on account of health problems through an Instagram message. News flow is extremely erratic at the moment, and we are currently fact checking, b...

Azerbaijanis claim major victory over Armenia
RUSSIA / FSU POLITICS · In Brief · 08 Nov 2020

On November 8 Azerbaijan boasted that it has retaken a town that it has not held since 1991. It is in the disputed Nagorno-Karabakh Region. The Armenians call the town Shushi. Armenia says there is a battle ongoing on the town but that the Azerbaijanis have not taken it. Armenia admits that at le...

Shooting the messenger, once again: some thoughts
TURKEY · In Brief · 07 Nov 2020

President Erdogan removed the CBRT Governor Murat Uysal today, replacing him with former Finance Minister Naci Agbal (2015-18), who has been heading the Budget and Strategy Office at the Presidency.There are basically two theories regarding what might have triggered the President’s decision. The ...

EU sanctions on Lukashenka
RUSSIA / FSU POLITICS · In Brief · 07 Nov 2020

On November 5 the EU imposed sanctions on the President of Belarus and his eldest son Viktar as well as 13 senior officials in Belarus. Viktat Lukashenka is the national security adviser. The reason given was for violence and electoral fraud. The people on the list have had their assets frozen an...

New Ukraine peace plan
RUSSIA / FSU POLITICS · In Brief · 06 Nov 2020

On November 5 the head of the Ukrainian delegation to the Trilateral Contact Group (TCG) produced a new peace proposal. The aim is to stage local elections in Donbass and Luhansk in March 2021. There are 5 steps in the plan: the withdrawal of foreign fighters, repealing the law offering Russian c...

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