Services

COUNTRY INSIGHTS

Belarus' president faces major opposition in re-election
RUSSIA / FSU POLITICS · In Brief · 22 Jun 2020 · 2 responses

On June 19 over 100 opposition activists were arrested. President Lukashenka is seeking election for the sixth time. For the first time he faces a strong challenge. His main opponents have been arrested.Lukashenka claims that a planned revolution has been thwarted. He said foreign countries were ...

Azerbaijan reintroduces lockdown
RUSSIA / FSU POLITICS · In Brief · 22 Jun 2020

On June 21 Azerbaijan announced that most of the country was returning to quarantine until August 1 at least. The country ended most lockdown measures on May 24. There was an alarming rise in coronavirus cases. The government has therefore changed course.

Low demand for 1-year REPO can push OFZ yields higher
RUSSIA ECONOMICS · In Brief · 22 Jun 2020

Today the CBR held its first long-term REPO auction and offered commercial banks 1-year loans up to R400 bln at a floating rate (equal to the key rate plus 25 bps). The aggregate demand was only R5.1 bln, which is definitely below market expectations. GKEM Analytica can offer several possible exp...

Economics: An extended road to recovery
MEXICO · Report · 22 Jun 2020 · 1 response

As we have known for some time, the economic fallout from Covid-19 will be felt on the external front as the global outlook remains highly uncertain, including on the level of the US economy, with which Mexico is so tightly linked. Its effects are also mounting in the strictly domestic sphere, wh...

More aggressive bond purchases likely
ISRAEL · Report · 22 Jun 2020 · 1 response

Recent indicators point to further improvement in activity, but the level remains about 10% below that of pre-Covid. May's low CPI (-1.6% y/y) underlines mostly the sharp downward demand shock due to the crisis. Low inflation will strengthen the doves on the MPC (although a rate cut is not our ba...

Essential CIS Politics: June 2020
RUSSIA / FSU POLITICS · Report · 22 Jun 2020

* Russia’s economy has been battered but rising energy prices and a new OPEC+ deal have given cause for hope. * The Russian government stimulus is modest but the economy is reopening as the country faces a constitutional reform referendum in July. * Ukraine has been buoyed by a...

The Deputy Governor sees more aggressive monetary policy only if the crisis worsens
ISRAEL · In Brief · 22 Jun 2020

Deputy Governor Abir last week said that the Bank’s high foreign exchange reserves are what enable aggressive monetary actions in the bond and FX market, and that they are a strategic asset for the Israeli economy. In addition, if the crisis worsens, the Bank has the ability to increase the exist...

No country for old analysts
TURKEY · Report · 21 Jun 2020 · 1 response

As we were finishing our final draft in the early morning hours in Istanbul, Egyptian President Sisi ordered his Armed Forces to prepare to intervene in Libya. While such a move could trigger clashes between Egypt and Turkey, we assign fairly low odds to a significant incident. Heads up, neverthe...

More aggressive bond purchases likely
ISRAEL · In Brief · 21 Jun 2020

Highlights of Weekly Israel Wrap Up May's CPI surprised on the downside, reaching -1.6% y/y. Inflation declined by 0.3% m/m compared to expectations of +0.1%. Apparel prices declined sharply, reaching -10.5% y/y from -3.8% in April. Core inflation (exc. energy and fresh produce) declined by -0.5%...

Kyrgzyzstan declares state was uninvolved in massive money laundering
RUSSIA / FSU POLITICS · In Brief · 20 Jun 2020

On June 18 the Kyrgyz Parliament voted that their government had no part in a massive money laundering scheme. USD 932 million were laundered and spirited abroad. A commission looked into the issue. A businessman was murdered in connection with money laundering.The commission said that foreign en...

The state of emergency was extended and the phase 3 of the reopening was postponed
DOMINICAN REPUBLIC · In Brief · 20 Jun 2020

Last week, President Medina asked Congress to extend the state of emergency until June 30. Despite opposition from the main opposition parties, Congress approved it as some Congress members of the opposition broke party lines and joined the PLD on short-lived objectives. The PRM and the FP (oppos...

On the defensive, the government shows a willingness to dialogue
BRAZIL POLITICS · Report · 19 Jun 2020

Despite the news from the main media outlets trying to connect Fabrício Queiroz, former aide to Senator Flávio Bolsonaro (Republicanos-RJ) from the time Flávio was a state deputy in Rio de Janeiro (RJ), with President Jair Bolsonaro, for now there are no facts to prove this relationship. However,...

Budget amendment bill more than double the government deficit
DOMINICAN REPUBLIC · In Brief · 19 Jun 2020

As announced several weeks ago, President Medina sent a bill to Congress that amends the 2020 budget law. The new budget: a) reduces revenues estimates by 10.3% or 0.7% of GDP. The reduction is less than expected because it includes extraordinary revenues not considered in the previous budget for...

US sells naval boats to Ukraine
RUSSIA / FSU POLITICS · In Brief · 19 Jun 2020

On June 17 the United States approved the sale of 16 Mark VI patrol boats to Ukraine. The package is worth USD 600 million and includes sensors, radar, guns for the boats and communications equipment. This is the first defense sale to Ukraine in several months. The Trump administration is keen to...

The economy is hit but withstands the pandemic pressure
RUSSIA ECONOMICS · In Brief · 19 Jun 2020

Rosstat released preliminary estimates of major economic indicators in May and 5m20 and most of them don’t look too bad given the current circumstances. A few days ago, GKEM Analytica already mentioned that even though manufacturing contracted in May, this contraction was as deep as in most Europ...

Copyright 2025 GlobalSource Partners. All rights reserved.