GlobalSource Partners | Country Insights

This will be a busy week in Brasília. The source of the government’s worries, the Covid Parliamentary Committee of Inquiry (CPI), is expected to be fully installed by Tuesday, April 27. On Friday, April 30, the tax reductions on fuel, meant to appease truck drivers who are unhappy with increasing...

Economic recovery will support tapering of asset purchases

ISRAEL · Report · 26 Apr 2021

* Rates remained stable last week, but the policy statement and macro forecast point to a strong recovery. * The forward guidance statement no longer includes the possibility of “additional tools” or the possibility of zero rates (in the macro forecast). * Asset purchase tapering will de...

Russia launches British telecomms

CIS POLITICS · In Brief · 26 Apr 2021

On April 26 a Russian Soyuz rocket took off from Vostochny taking 36 UK telecomm and internet satellites into space. OneWeb is a UK company that is working on low orbit satellites. The company is competing against SpaceX to offer fast internet to regions that are currently poorly served.Roscosmos...

Essential CIS Politics: April 2021

CIS POLITICS · Report · 26 Apr 2021

* US-Russian relations are worsening, with Russia temporarily withdrawing its ambassador and the US imposing more sanctions. * Diplomatic rows have emerged between Russia and the EU countries, notably the Czech Republic – with embassy staff expelled from both sides. * The RUB...

Biden recognises the Armenian Genocide

CIS POLITICS · In Brief · 25 Apr 2021

On April 24 the US President stated that the mass slaying of Armenians in the First World War was genocide. The killing was committed by the Ottoman Empire, which is the predecessor of Turkey.Armenia is a former Soviet country and is more in Russia's orbit than any other former Soviet republic. Y...

Russian interest raised in bid to curb inflation

CIS POLITICS · In Brief · 24 Apr 2021

On April 23 the Central Bank of Russia (CBR) raised the interest rate to 5%. It was 4.5%. This is the second rise since March. Inflation is jeopardizing economic recovery. Inflation is up to 5.8% and the CBR's goal is to keep it under 4%.The government has introduced price controls for particular...

Russia loosens entry requirements for foreigners

CIS POLITICS · In Brief · 24 Apr 2021

On April 19 Moscow announced the relaxation of rules for foreign citizens visiting the country including Britons. People from 29 countries can come to Russia either directly or via one of the other 29 nations.The 29 nations include Switzerland, Finland, Germany, the UAE, various former Soviet cou...

Russia pulls troops back from Ukrainian Border

CIS POLITICS · In Brief · 23 Apr 2021

On April 22 Russia announced that it was sending soldiers back to their bases after exercises along the frontier. This included exercises in Crimea. The return to base shall be completed by May 1. The buildup caused widespread condemnation.There had been an uptick in firing across the ceasefire l...

Exame/Ideia Big Data poll: Presidential succession is polarized between Bolsonaro and Lula, but there is room for a third candidate

BRAZIL POLITICS · Report · 23 Apr 2021

According to three scenarios tested by the Exame/Ideia Big Data poll, the presidential election of 2022 is polarized between President Jair Bolsonaro and former President Lula (PT). It is important to note that the three possible PSDB candidates – Governors João Doria (SP) and Eduardo Leite (RS)...

Russia says there is progress on reunification with Belarus

CIS POLITICS · In Brief · 23 Apr 2021

On April 22 Putin announced that there has been headway on the goal of Russia and Belarus reuniting. Lukashenka confirmed this. Lukashenka had been in Moscow for talks.Legilsation shall be forthcoming. Lukashenka said he is about to make the most consequential announcement of his presidency. Oppo...

2021 Budget published, and the STF confirmed Sergio Moro's partiality in Lula's cases in Curitiba

BRAZIL POLITICS · Report · 23 Apr 2021

As expected, the 2021 Federal Budget was published with vetoes in the Official Gazette today for a total of R$ 19.8 billion. In an agreement with Congress, President Bolsonaro blocked R$ 9.2 billion in funds for some ministries in order to approve expenses beyond the spending ceiling. Yester...

Czech-Russian row intensifies

CIS POLITICS · In Brief · 23 Apr 2021

On April 22 Prague said it shall place a limit on the number of people allowed to work at the Russian Embassy. Russia must reduce staff numbers to the same number of people the Czechs are allowed in the Moscow. The deadline is May 31.Moscow has vowed to respond in the same manner.The Czechs have ...

The President is expected to sanction the budget today, and the Supreme Court to rule on jurisdictions in Lula's cases

BRAZIL POLITICS · Report · 22 Apr 2021

Today is the last day for President Bolsonaro to sanction the 2021 Federal Budget. An agreement was reached with Congress earlier this week to approve some expenses beyond the spending ceiling, such as health expenses and investment programs for the private sector. The Budget is expected to be s...

It is geo-politics, stupid

TURKEY · In Brief · 22 Apr 2021

As I write these lines, dollar/TL had already skyrocketed to 8.28-30, and I’m willing to bet that short of a miracle the parity shall continue to climb through Friday evening. As Cosmo warned our readership in the last Weekly Tracker, Turkish markets are now marching to the drumbeat of political ...

A breathless run-off presidential election

PERU · Forecast · 19 Apr 2021

Without a doubt, the results of the April 11th first-round presidential and congressional elections were surprising. Few had expected an outsider to emerge two weeks ahead of Election Day, and to win by a landslide. The official count by the Oficina Nacional de Procesos Electorales (ONPE, respons...