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COUNTRY INSIGHTS

GlobalSource Partners Analyst Webinar Series: Turkey - Final Countdown?
TURKEY · Report · 28 Mar 2021

This Sunday we are attaching a link to the replay of our webinar, “Turkey: Final countdown?” and the presentation from the webinar. We will keep you posted on events with In Briefs, if need be, and we are also planning to issue a short quarterly note, in which we will reflect on recent past ev...

Lockdown order for "NCR plus"
PHILIPPINES · In Brief · 27 Mar 2021

At around 6:30 tonight, President Rodrigo Duterte placed Metro Manila and four surrounding provinces (“NCR plus”) under Enhanced Community Quarantine (ECQ), ordering people to stay at home and shuttering businesses deemed non-essential. But unlike last year, public transport will continue to oper...

Russian personal debt at an all time high
RUSSIA / FSU POLITICS · In Brief · 27 Mar 2021

The percentage of personal income that Russians are spending repaying their debts is at its highest ever level. The Central Bank of Russia published this datum on March 26. The everage debt burden rose to 11.7% of a person's income. The debt burden has been growing for years. The pandemic is the ...

Russia to strengthen links with Myanmar
RUSSIA / FSU POLITICS · In Brief · 27 Mar 2021

On March 26 the Russian deputy defense minister visited Myanmar and expressed his country's wish to increase trade and cooperation. He was meeting the Mynmarese Army's commander in chief. Russia sells significant quantities of arms to Myanmar.At the UN, Russia has voted against any criticism of M...

A critical year
CENTRAL AMERICA · Report · 26 Mar 2021

Guatemala performed better than its regional partners in 2020. Though the COVID-19 pandemic affected the global economy, its intensity differed from country to country. In Guatemala, temporary restrictions on economic activity were compensated for by positive external results in merchandise expor...

​Covid watch (4)
PHILIPPINES · In Brief · 26 Mar 2021

The surge in covid19 cases continued this week with the daily new cases reaching another high of 9,838 today. The 7d average was 7,846 this week, up another 50% from last week and more than doubling in a span of 12 days. Metro Manila accounted for about half of the total. Most worrisome, health f...

GULF WEEKLY: Kuwait’s emir returns to a crisis, Covid worsens, IMF lifts Bahrain debt forecasts
GULF COUNTRIES · Report · 26 Mar 2021

A skimmable summary overlaid with our analysis and links. Headlines: * Covid cases are on the rise, particularly in Bahrain and Kuwait, and new restrictions are being introduced. * Saudi Arabia rehashed a Yemen ceasefire proposal that the Houthis unsurprisingly rejected. This comes as their a...

Russian rocket launches UK telecomms into space
RUSSIA / FSU POLITICS · In Brief · 26 Mar 2021

On March 25 a rocket took off from the Vostochny cosmodrome in the Russian Far East bearing 36 British satellites for phone and internet connections. OneWeb is a UK company seeking to finish a group of low orbit satellites to improve broadband worldwide.The company is striving to complete the pro...

Suez Canal Blockage
INDIA · In Brief · 26 Mar 2021

The blockage in the Suez Canal is an important problem for global trade. It is particularly important for India. Increased costs of transportation are tantamount to a government-induced barrier to trade.The two biggest ports of India, at Nhava Sheva and Mundra, are on the West Coast. Indian trade...

South Africa’s monetary policy remains accommodative, supporting the economy
SOUTH AFRICA · Report · 25 Mar 2021

The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) announced it is keeping the benchmark interest rate at 3.5%, hence the prime lending rate also remains at 7%. The repo rate has stayed at 3.5% since end-July 2020 following consecutive cuts of a cumulative 300 basis points fr...

Five themes relevant to the economic, financial and political perspectives of the country in 2021
PANAMA · Report · 25 Mar 2021

We discuss five policy issues that may influence the economic performance of the country in 2021: whether or not the newly published results of 2020 will affect our 4.9% projection for the year, the effects of the most recent downgrade of the sovereign debt, the political economy of the dialogue ...

Russian public spending hits post Soviet record high
RUSSIA / FSU POLITICS · In Brief · 25 Mar 2021

On March 23 data was published showing that in 2020 public spending was at its highest in real terms since the end of the USSR. The government spent more to negate the impact of coronavirus.If you consider regional spending as well as federal spending as well as off budget spending by government ...

Russia to trade carbon credits
RUSSIA / FSU POLITICS · In Brief · 24 Mar 2021

On March 23 Moscow announced that it is setting up a digital platform to collate satellite and drone images and data about forests in the Russian Far East with a view to selling them on a carbon offsetting market. The system is called ''Lesvostok.rf'' which means ''forest east.'' It will be launc...

Russian oil sales to US overtake Saudi's
RUSSIA / FSU POLITICS · In Brief · 24 Mar 2021

On March 24 Bloomberg noted that in 2020 Russian oil shipments to the United States outstripped Saudi sales for the first time.US oil purchases from Russia make a mockery of US concern about the EU buying too much gas from Russia.Russia is now the third biggest oil exporter to the US. Russian oil...

Israel election update: coalition formation looks increasingly complicated
ISRAEL · In Brief · 24 Mar 2021

With 90% of the votes counted, the balance of mandates has shifted dramatically. The Netanyahu led block currently has only 52 mandates. If Benett (Yamina) and his 7 seats join this coalition, Netanyahu will still be short of the necessary 61 majority. Netanyahu must bring in one of the Arab part...

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