Baltic States
Who is winning the sanctions war?
In December the EU commissioned a secret report to assess just how badly the war in Ukraine, and the polycrisis it is fuelling, is hurting Europe’s economy. Good news: Europe is doing OK; bad news: so is Russia.
Is Belarus laying a trap with grain transit offer?
Belarus has offered to let Ukrainian grain go through its territory to Lithuania without preconditions. However Lithuania is wary of this sudden offer.
Ninth package of sanctions on Russia bogged down in debate
Debate of what should go into the EU’s ninth package of sanctions is bogged down in disagreement. EU foreign ministers met on December 12 to think up more measures to punish Russia for its war in Ukraine, but could not agree on how best to do this.
IMF: Riding the global debt rollercoaster
Global debt remained above pre-pandemic levels in 2021 even after posting its steepest decline in 70 years, underscoring the challenges for policymakers.
NEMETHY: The case for gold today – again
In April 2021 gold was sitting around a price of $1,700; as of December 10, 2022 it is now approaching $1,800. Relative to just about every other asset class, this is not a bad performance.
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bneGREEN: Vertical farms to feed the cities of the future
Indoor vertical farms in Emerging European cities are replacing costly and polluting air imports to supply leafy vegetables for the region’s urban populations.
CESEE banks expect credit conditions to tighten and NPLs to rise
With most COVID-19-related support measures having been phased out, borrowers are now being put under pressure by surging inflation and sharply rising interest rates.
Latvia revokes Russian opposition TV station Dozhd’s broadcasting licence
Following an on-air gaffe, Latvia's National Electronic Media Council (NEPLP) has cancelled Dozhd's (Rain's) licence for threatening national security.
Foreign investment has transformed Eastern Europe, says wiiw report
Foreign investment will continue to have a vital role to play in the region’s development, particularly now that international companies are rethinking their supply chains.
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bneGREEN: EU energy ministers agree to speed up permitting and deployment of renewables temporarily
A final decision – formal approval – on the new regulation may occur at another emergency meeting on December 13.
bneGREEN: ING: Euro sustainable bond supply set to stagnate in 2023
Euro sustainable bond issuance in 2023 is not likely to repeat the growth rates seen in the last few years. While governments and agencies could slightly accelerate ESG issuance in 2023, financial institutions' ESG bond supply will lose some steam.
Ukraine faces one of worst declines in GDP from a war, says EBRD
The contraction in Ukraine’s GDP will be among the worst 10-20% of those in conflicts in the last 200 years, the development bank predicts in its 2022/23 Transition Report.
EBRD warns of risk of 'zombification'
Development bank recommends countries should now gradually dial down help to vulnerable companies, so they can either learn to adapt to the new climate of higher interest rates or exit the market by going into insolvency.
Private equity poised for growth surge in CEE despite macro and geopolitical crises
Fund managers surveyed by Bain & Company point to region’s strong macroeconomic fundamentals and catch-up potential.
Europe scrambles in response to reported Russian military strike on Poland
Instant storm of reaction after two Russian missiles were reported to have gone off course over Ukraine and hit a Polish village, killing two people. It was later reported that they were in fact Ukrainian missiles.
bneGREEN: REPowerEU rules still leave loopholes for gas investment
The European Parliament has approved temporary emergency regulations to accelerate the deployment of renewable energy across the EU, but gas investment is still allowed
Lithuanian businessman and Lukashenko associate made billions through oil export scheme, according to investigation
Yury Chyzh and his Lithuanian partner Vitold Tomasevskij are reported to have transferred billions of dollars out of Belarus that they had allegedly made thanks to preferential access to cheap petroleum.
Belarus Corruption Watch: How two businessmen made billions from the “solvents scheme”
In their latest investigation, the Belarusian Investigative Centre has detailed, with the help of the Cyber Partisans, Chyzh’s and Tomaševsky’s joint business schemes since the earlier 2000s and found out how they’ve spent their fortunes.
Latvia becomes first EU country to enter recession
Compared to the second quarter of 2022, GDP fell by 1.7%, while y/y the economy contracted by 0.6%.
