On February 13-14, the “Ministerial to Promote a Future of Peace and Security in the Middle East” conference was held in Warsaw at the initiative of Poland and the United States, and gathered representatives from 62 countries.
We suspect that the sharp slowdown in Russia’s manufacturing sector in the second half of 2018 was due to a fall in public spending on military and railway transport. If we’re right, manufacturing should recover in 2019
Russia's current account surplus of $11.8bn for January is in line with our expectations. This, combined with a benign external environment, reinforces our constructive short-term view on RUB. But there may be some weakness in 2Q19
Just how Russia will react to losing a significant source of soft power remains unclear, but Moscow has raised eyebrows with a pledge to “protect the interests of the faithful” in Ukraine.
Trump officials have scoffed at “paper tiger” but might it be a symbolic step towards asserting European economic sovereignty?
The removal of three Russian companies – Rusal, En+ and EuroSibEnergo – from the SDN sanctions list is a big deal, but neither the ruble nor the OFZ government treasury bonds rallied
Both consumer and producer activity weakened in December 2018, confirming our expectations of declining support of local demand to GDP growth at least at the beginning of 2019. This year will be a test to Russia's conservative approach
Russia just brought in a record budget surplus partly thanks to increased efficiency in tax collection and a tighter run ship. The break even price of oil for the federal budget has dropped again to $49.
The IMF approval of the new Stand by agreement (SBA) program in December significantly raises Ukraine's ability to repay the $9bn FX debt coming due in 2019. However, the government will need to go to the Eurobond market in April or May
Despite a tightening in the sanction environment, Russian companies and banks managed to refinance 75% of the $112bn of debt scheduled for redemption in 2018. With a gross redemption of $52bn scheduled for 2019 actual outflow could be as low as $10bn
"Hasta la vista, Andy!" wrote Hungarian PM Viktor Orban to the former Hollywood producer who revived Hungary's film industry, but was criticised for his involvement in pro-government media.
2018 is now behind us and it was a painful year for most investors around the world, across all asset classes. In USD terms, MSCI indices for frontier and emerging markets ended the year with a negative total return of 16.4% and 14.5%
Refuse-processing company Resursosberezhenie KhMAO has issued Russia's first green bond, laying the groundwork for bigger transactions, including eurobonds.