Kazakhstan’s wheat flour export ban amid pandemic opposed by millers as unnecessary hoarding

bne IntelIiNews March 27, 2020

Analysts weighing up likelihood of wave of food nationalism and protectionism as coronavirus roils markets.

Is the pace of outflows from EMs starting to slow?

bne IntelliNews March 26, 2020

Equity and bond markets have been rocked by record volumes of outflows since the end of February in one of the biggest sell offs ever, but the pace of selling seems to be slowing in the last few days, said the Institute of International Finance (IIF)

"Falcon" is Astana International Exchange's first Chinese yuan-denominated bond

Kanat Shaku in Almaty March 26, 2020

AIFC financial hub seeking to create regional centre for Chinese yuan-based clearing and settlement.

Fitch cuts oil price outlook for 2020 from 62.5/bbl to $41/bbl on global recession fears

Ben Aris in Berlin March 24, 2020

Fitch Ratings has cut its short and medium-term oil and natural gas price assumptions in expectation of very large market oversupply in 2020.

Kazakhstan orders state companies to sell forex revenue

bne IntelIiNews March 23, 2020

Order comes from president after tenge weakens by 17% against dollar in face of collapsed oil prices.

Coronavirus crisis to widen rich/poor gap within Central and Eastern Europe

Clare Nuttall in Glasgow March 19, 2020

Convergence to be reversed as the economic crisis resulting from the coronavirus pandemic is set to be deeper and longer in the CIS, Ukraine, Turkey and the Western Balkans than in the EU member states of Central and Southeast Europe.

wiiw slashes 2020 growth forecast for CESEE to just 1.1%

Clare Nuttall in Glasgow March 17, 2020

Vienna-based think tank expects the coronavirus pandemic to result in the worst year for the region since the global financial crisis.

Kazakh tenge plunges to record low as world oil prices flounder

Kanat Shaku in Almaty March 17, 2020

Depreciation triggered after Kazakhstan’s central bank (NBK) decides to stick to free float regime instead of supporting currency with interventions as it promised when crude price crashed last week.

EBRD makes €1bn available as emergency measure to fight coronavirus impact

bne IntelIiNews March 15, 2020

The EBRD has unveiled an emergency €1bn “Solidarity Package” to help companies deal with the impact of the coronavirus pandemic.

Kazakhstan declares first COVID-19 infections while Turkmenistan cuts FX access in face of pandemic

bne IntelIiNews March 13, 2020

Coronavirus inroads in Central Asia starting to become clear. But so far it’s economic fallout from outbreak’s impact on China that is most apparent.

Oil price shock sparks rapid revision of budget in Kazakhstan

Kanat Shaku in Almaty March 10, 2020

Country’s budget based on oil at $50-$55 per barrel compared to $31 caused by failure of OPEC+ talks. Situation could eat up government reserves. Some Kazakhs enter into panic buying of dollars. Central bank hikes key rate 275bp.

CEE/CIS populations believe in gender equality in education but not in business or politics

Clare Nuttall in Glasgow March 8, 2020

More than 100 years since International Women’s Day was declared a national holiday in post-revolutionary Russia, a new survey from the UNDP reveals gender bias is still widespread across the region.

CEE monthly bond wrap: CIS bond market off to a strong start in 2020

Ben Aris in Berlin March 5, 2020

Bond markets in emerging Europe were off to a strong start in January but the impact of the coronavirus was already visible by February as bond issues began to drop off.

Manufacturing PMI shows Kazakh operating conditions deteriorated for fourth straight month

bne IntellIiNews March 3, 2020

“No signs of any resolute rebound in activity” within private non-oil sector but slower rate of decline across most index components observed.