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Plenty of hype, little action.
Flashing red lights on lira, sky-high inflation, dwindling FX reserves and soaring cost of insuring debt against default. A currency crisis could be around the corner.
Lira hits latest record low and cost of insuring debt soars. New data, meanwhile, shows central bank burnt through $17bn in weeks before polls attempting to prop up economy.
Inflation remains a drag on growth in Emerging Europe, along with sluggish growth in advanced economies and stricter financing conditions in Central Europe and the Baltic states.
Development bank holds its annual meeting in Central Asia for the first time in 12 years.
Earlier this week the IIB admitted it could not meet its obligations to partners but blamed difficulties caused by sanctions rather than a liquidity crisis.
Experts blame climate crisis for annual occurrence of phenomenon that used to occur just twice a decade.
Those who can leave to take a chance abroad, often do. Amid the cost-of-living crunch, things just don’t add up.
The decision to withdraw by the bank's second-largest shareholder implies that Hungary will refuse to take part in any attempt to rescue the IIB, which had been rumoured to be in crisis even before the imposition of sanctions.
Washington says IIB enables Russia to increase its intelligence presence in Europe, and to use corruption to conduct malign activities in Central Europe and the Western Balkans.
This time last year Mongolia faced a difficult future, with a high risk of debt default. The country’s main trade partner, China, had mostly closed its borders and reduced imports of coal and copper. Now its doing well thanks to the seven Cs.
A new report published by the AidData research lab at Virginia’s College of William & Mary sheds some light on the usually nontransparent practice of Chinese bilateral emergency loans.
The Kremlin has released a new foreign policy document that lays out its plans for its post-war relations. The main points are based on a “multipolar world” and that Russia doesn’t see itself as an enemy of the West.
Trafigura, one of the world’s largest commodity traders, expects copper prices to rise by a third from its current levels due to a global shortage and hit $12,000 per tonne within the next 12 months.
Russia took over the chairmanship of the Eurasian Economic Union (EEU) at the start of this year and is looking to the trade club as one of the ways it can expand its trade after the Western world has increasingly cut ties due to sanctions.
Chinese President Xi Jinping took his leave of Russian President Vladimir Putin from a two-day visit to Moscow with a smile on his face. But despite the important show of solidarity, Putin got little in concrete terms from the Chinese leader.
Chinese President Xi Jinping and Russian President Vladimir Putin held a second day of talks on China’s plan for the settlement of the Ukrainian conflict and expanding economic and trade ties.
Russia and China will struggle for common policy on possible Russian soft underbelly Central Asia, Afghanistan, Mongolia, the vital Europe/Asia Caucasus crossroads, the Baltics, CEE and SEE.
Pandemic and Ukraine war impacts bring hardship that makes battle to subsist outside of the city a gruelling challenge.