GlobalSource Partners | Country Insights

On October 6 demonstrators stormed Government House in the capital. Former President Atambaev was rescued from the National Security Building where he was a prisoner. National Security personnel were overwhelmed by the numbers of protesters and there was no violence. Police were demonstrating aga...

Synthesis of the Brazilian economy

BRAZIL ECONOMICS · Report · 05 Oct 2020 · 1 response

The country is now close to completing the seventh month since the start of the pandemic, which has claimed over 145 thousand lives so far, and the daily death toll is still stubbornly stationary at around 700, demonstrating the exasperatingly slow deceleration of the disease in the country. Agai...

The NBU Council gives a reprimand to Rozhkova and Sologub

UKRAINE · In Brief · 05 Oct 2020

The NBU Council gave a reprimand and expressed distrust of the First Deputy Head of the NBU Kateryna Rozhkova and the Deputy Head Dmytro Sologub at the NBU Council meeting on October 2nd, according to the NBU Press-Release published today.According to epravda.com.ua the NBU Governor Kyrylo Shevch...

British Appeals Court's rule on BCV gold

VENEZUELA · In Brief · 05 Oct 2020

On October 5, a British Appeals Court ruled that the legal fight over $1 billion in Venezuelan gold stored in the vaults of the Bank of England (BOE) be remitted back to the Commercial Court that ruled in favor of Juan Guaidó’s Interim Government, seeking clarity on two issues: (1) The UK governm...

Politics: Corruption and rule of law in the 4T sphere

MEXICO · Report · 05 Oct 2020

Last week’s shocking Supreme Court ruling authorizing President López Obrador to hold a popular consultation in which voters were to decide whether to put on trial all five previous presidents for any supposed misdeeds tells a very damning story about the state of democracy and the rule of law in...

Pressure on Guedes increases and other weekly topics

BRAZIL POLITICS · Report · 05 Oct 2020

Negotiations around the creation of the Renda Cidadã program continue. Parliamentarians will request that Senate President Davi Alcolumbre (DEM-AP) set a new date for analysis of the presidential vetoes on payroll tax exemptions and the sanitation regulatory framework. On Friday, October 9, elect...

Economics: A few positive signs but still a long way to recovery

MEXICO · Report · 05 Oct 2020

Some of the economic indicators released over the past months proved to be more mixed than the dismal, depression levels reported for the mid-to-late spring amid pandemic lockdown measures that were applied to most industries. July produced another contraction of industrial activity, but this ti...

Where are China’s dollar inflows going?

CHINA FINANCIAL · Report · 05 Oct 2020 · 2 responses

• In recent months the PBoC’s reported foreign exchange reserves have not behaved properly given the huge increase in inflows on the trade and financial accounts. The trade surplus has exploded to 4-5 percent of GDP, from less than half that, and net portfolio inflows are equal to over 2 percent ...

Russia’s political/pandemic update: The light is dim, the tunnel looks longer

RUSSIA ECONOMICS · Report · 05 Oct 2020

It looks as though earlier hopes to contain the spread of the coronavirus within a relatively short time frame evaporated in September. Newly registered cases in Europe (including Russia) started to rise much faster, and in the Americas they remained high, as well. The epidemiological situation i...

Teflon President

PHILIPPINES · In Brief · 05 Oct 2020

It is all over the news, 91% of 1,200 surveyed respondents said they approved of President Rodrigo Duterte’s performance and trusted him. The survey was conducted from September 14-20, following one of the worst outbreaks of covid19 in the region and the most stringent and longest lockdowns anywh...

Not bad, but too soon to celebrate

TURKEY · Report · 05 Oct 2020

Consumer prices rose by a lower than expected 1%, m/m, in September, with the 12-month rate remaining almost flat over August, at 11.7% (August: 11.8%). The error in our forecast, which was even slightly higher than the consensus (of 1.3%), largely stemmed from food and transportation categories,...

A more prolonged closure supports further accommodation

ISRAEL · Report · 05 Oct 2020

Recent economic indicators, such as weekly credit card purchases and Google mobility, point to economic contraction since the renewed lockdown. The government is leaning towards a more prolonged closure, with a gradual re-opening of activity. Economic deterioration and a more prolonged closure su...

Armenia-Azerbaijan conflict escalates

CIS POLITICS · In Brief · 05 Oct 2020

On October 4 the Armenian controlled city of Stepankert was hit by rockets and artillery. The Armenians retaliated with artillery fire and rockets on Ganja which is Azerbaijan's second city. This is a serious escalation of the conflict over the disputed Nagorno Karabakh Region.Both nations have r...

Disputed Kyrgyz election results lead to protests

CIS POLITICS · In Brief · 05 Oct 2020

On October 4 Kyrgyzstan held parliamentary elections. President Jeenbekov's allies won. A party needs 7% to get seats in Jororku Kenesh (parliament) Birimduk, Mekenim Kyrgyzstan and the Kyrgyzstan Party are the main pro-government ones. They favor greater integration with the Eurasian Economic Un...

Relatively orderly fiscal deficit reported for H1 2020

HUNGARY · In Brief · 05 Oct 2020

The main fiscal deficit ratio, put together by the EU's ESA-2010 methodology, came out as 9.1% of GDP for Q2 and 5.3% of GDP for H1 2020. Revenue went down by 5.5% yoy, whereas expenditure rose by 14% yoy in Q2, the corresponding figures being -1.4% yoy for revenue and +12.6% yoy for expenditure ...