News
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Poland’s PiS passes COVID-19 economic package to criticism from all sides
The package, dubbed an “anti-crisis shield” by the ruling Law and Justice party, is aimed at helping an economy about to enter its biggest crisis since the 1980s.
Moscow locked down as coronavirus infections in Russia accelerate
Moscow mayor Sergey Sobyanin ordered a lockdown of the Russian capital in the evening of March 29 that is effective from Monday morning.
Kazakhstan’s wheat flour export ban amid pandemic opposed by millers as unnecessary hoarding
Analysts weighing up likelihood of wave of food nationalism and protectionism as coronavirus roils markets.
Turkish business presses Erdogan to beef up COVID-19 economic support and consider strict lockdown
With academics warning Turkey may face pandemic “catastrophe”, local corporate titans suggest it might be better for country to bite bullet and go for short, sharp shock rather than long, drawn-out battle.
Hungary announces two-week curfew to stem the spread of coronavirus
Hungarians are only allowed to leave their homes to go to work or to run essential errands, PM Viktor Orban announces, as virus reaches the community transmission stage.
Doubts cast over Hungarian central bank's bullish economic forecasts
The Hungarian National Bank projects a growth slowdown, but still expects Hungary to perform better than eurozone countries. Most analysts take a gloomier view and forecast a recession.
CEE hotel deals put on hold amid coronavirus pandemic
After a vintage 2019, almost €2bn worth of deals were expected to close in the hotel sectors of six Central and Southeast European countries this year, but these are looking increasingly unlikely to complete, says a report from law firm CMS.
IIF forecasts a contraction of -1.4% in CEE, -1.3% in Russia, but Turkish growth remains in the black in 2020
The Institute of International Finance (IIF) released updated forecasts for economic growth this year for the Central and Eastern Europe (CEE) countries that show a sharp slowdown in 2020 and all except Turkey will return negative results.
Is Russia’s healthcare system up to dealing with the coronavirus?
Experts worry that Russia is ill-prepared to deal with a spike in infections thanks to the neglect of health system reform.
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Kosovan MPs dismiss Albin Kurti’s government after spat over handing of epidemic
The vote plunges the country back into political instability as the authorities are bracing for more cases of COVID-19.
Is the pace of outflows from EMs starting to slow?
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
AIFC financial hub seeking to create regional centre for Chinese yuan-based clearing and settlement.
Latest data show no progress resolving Turkish real sector’s foreign debt woe
Burden seen as Turkey’s biggest headache in wake of currency crisis. Figures come amid pandemic as analysts say idea EMs will face ‘sudden stop’ in capital flows is starting to gain traction.
Bucharest’s economy partly insulated from COVID-19 says Colliers
Real estate consultancy points to the strong IT&C, scientific and professional services sectors in the Romanian capital are helping to protect property market from the fallout from the pandemic.
Economic think tank sees Hungarian economy plunging 20% in Q2
Economy to be dragged down by to the almost complete shutdown in the service sector and suspension of production in the vehicle industry, says a forecast by GKI.
Wizz Air operating at 15% capacity
Grounding the entire fleet remains a distinct possibility, but CEE's biggest low cost carrier says it is confident it can survive even a prolonged grounding.
Harvard academic claims coronavirus situation “out of control” in Turkey
“If the necessary measures are not taken, Turkey will be like Italy or Spain, where the daily death toll is in the hundreds,” says Turkish professor.
Serbia follows Chinese playbook on fighting coronavirus epidemic
Serbia has introduced tough new measures to contain the spread of COVID-19 after appealing to China for help.
EU ministers reach agreement to open accession talks with Albania, North Macedonia
Decision "sends a loud and clear message to the Western Balkans: your future is in the EU,” said Enlargement Commissioner Oliver Varhelyi.
Ukraine's Prime Minister Denys Shmyhal causes a short flurry with gaffe confusing restructuring debt for refinancing
Prime Minister Denys Shmyhal caused a short flurry when he inadvertently said Ukraine would “restructure” its external debt when he meant to say “refinance” during a TV interview on March 23.