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COUNTRY INSIGHTS

All charged up and ready to go
INDONESIA · Report · 31 Mar 2021

Recently Credit Lyonnais Securities Asia published a report on the Indonesian electric vehicle industry that underscored its confidence in the Indonesian government's support for the industry, from nickel production for batteries to the prospects of Indonesia's becoming part of the global product...

China sending more goods via Russia than ever before
RUSSIA / FSU POLITICS · In Brief · 30 Mar 2021

On March 27 the Financial Times reported that China is increasingly transporting its products to the EU via Russia and Central Asia. This is due to the increased cost of seaborne transport. Over 2 000 freight trains from China crossed Russia in January and February 2021. That is a 100% YoY increa...

Fear the wolf and the shepherd
COLOMBIA · Report · 30 Mar 2021

These are times of flawed fiscal calculations, in which projections’ failure to match subsequent reality are having negative consequences. The 2020 budget was heavily under-executed, with more than COP 41 trillion (about 4 pp of GDP) of budgeted monies left undeployed. This is a very poor perform...

Partial reopening to start around mid-April
HUNGARY · In Brief · 30 Mar 2021

Cabinet minister Gulyás has made the following announcements on Covid restrictions:- Existing restrictions, including a night curfew, the closure of most shops and services, except for basic ones, the closure of schools and kindegartens and the prohibition of public gatherings of size, will be al...

Chile: The electoral calendar gets Covid
CHILE · In Brief · 29 Mar 2021

Although Chile is one of the world’s top countries in terms of vaccination, with almost 40% of the population having received at least one dose, the country is in the midst of a second wave of Covid-19 infections. This has led to increasing pressure to reconsider holding the mega-election (for ma...

Economics: Strong demand abroad but a weak homefront
MEXICO · Report · 29 Mar 2021

Economic results published during March tended to confirm the growing consensus that Mexico’s 2021 economic prospects are looking slightly better, with much of that improvement a reflection of the brighter US outlook that can be expected to spill over on multiple fronts, ranging from increased de...

A successful first step for the bill to defend dollarization
ECUADOR · In Brief · 29 Mar 2021 · 1 response

After three failed attempts, the Administrative Committee of the National Assembly accepted the bill and passed it to the Economic Commission, from where, if approved in this second stage, it will pass to the plenary session.The new version of the law replaces one Board of Directors with two Boar...

Politics: Voter preferences remain unclear
MEXICO · Report · 29 Mar 2021

This week candidates can begin campaigning for the June 6 elections at a time when the general context has been trending against the current administration and the partial electoral coalition it is taking into the midterm contests for the lower chamber of Congress. And just in time for the occasi...

Pressure for more emergency aid and other weekly topics
BRAZIL POLITICS · Report · 29 Mar 2021

President Jair Bolsonaro leads the first meeting of the National Coordination Committee for the Pandemic Response. The new Public Tender Law should be sanctioned on Thursday. Wednesday is the deadline for the functioning of the Joint Committee on Tax Reform. This week's Talking Points: ...

Monetary Policy: the Risks Ahead
BRAZIL ECONOMICS · Report · 29 Mar 2021

In the last Inflation Report, the Central Bank detailed the reasons it decided to start the “monetary normalization” with an increase of 75 basis points in the SELIC rate, to be followed by another hike of the same magnitude. Although recognizing that the inflation of 5.2% in the 12 months throug...

​Lockdown watch
PHILIPPINES · In Brief · 29 Mar 2021

Metro Manila and 4 surrounding provinces (“NCR plus”) went into the most stringent lockdown classification (“ECQ”[1]) today that will last a week. Checkpoints have been set up, a long curfew (6pm to 5am) imposed and only one person per household allowed to go out for essential procurements. The l...

Russia and the internet
RUSSIA / FSU POLITICS · Report · 29 Mar 2021

On March 10 Russia slowed down Twitter for several hours. The aim was to penalize Twitter for failing to remove prohibited content. Putin is keenly alive to the importance of controlling the media. Information warfare is being used more and more by governments, and the keyboard is apparently migh...

4 Ukrainian soldiers killed fighting
RUSSIA / FSU POLITICS · In Brief · 29 Mar 2021

On March 27 Ukraine annonced the deaths of the servicemen and that several more were wounded. There was shelling by separatists that killed the soldiers. 19 soldiers have been killed in 2021. Zelensky said he wanted the conflict to be de-escalated. Until now the ceasefire signed in July 2020 has ...

The economic rebounds as restrictions are lifted
ISRAEL · In Brief · 29 Mar 2021

Weekly Macro Wrap Up 29.3.21 Recent economic data remains rather positive and reflects the rapid opening up of the economy on the back of mass vaccination. We stress the weekly credit card purchases which increased by 6% in the last week through the 25.3, and has increased by 31% since mid-Februa...

Flights from Russia to Uzbekistan and Tajikistan resume
RUSSIA / FSU POLITICS · In Brief · 28 Mar 2021

On March 27 it was announced that flights between the three countries shall restart on April 1, 2021. This will delight migrant workers from Central Asia who have been reduced to absolute poverty for the last 12 months. Flights will be less frequent than before the pandemic. They will start with ...

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