Belarus is having a few bad years. GDP grew only by 1.2% in 2019 and will contract by about 5% this year, but its finances are increasingly well run
Robustness of country’s banks also scrutinised with observers fearing a perfect storm scenario ahead of ‘Currency Crisis II’.
$300mn has been given and another $70mn may be on the way.
“It was the pandemic that hit the economy hard, not the lockdown itself.”
The painful choice faced by poorer emerging European countries as they are forced to balance the risk to life of a new coronavirus spike with the economic and human cost of a second lockdown.
Romanian tech entrepreneur Radu Negulescu believes the early reopening of economies post-lockdown is self-defeating and forecasts years of hardship before the global economy finally rebounds.
Most of small nation’s extra debt is related to donor support at concessional terms, says report, while fiscal and monetary policies are adequate. Continued high dependence on imports a drag on economic progress.
Erdogan wants Islamised one-party state says academic.
“It’s a tinderbox” says analyst who determined projections of civil unrest and ability of countries to bounce back from pandemic.
Pre-election clampdown on the opposition has worsened Minsk’s relations with the West, making President Lukashenko more amenable in future talks with Moscow — including on the unification of Russia and Belarus.
Hemp uses less water than cotton, a fact that should excite farmers in the rapidly desiccating region.
Even though voting took place in a free and democratic manner the DDoS attack left a big stain on the election — the first since the country changed its name to North Macedonia and become a Nato member.
Timing is everything as politicians seek to take advantage of poll boosts from steering their countries through the pandemic and launching stimulus packages, before populations really feel the impact of the crippling economic recessions.
Protests against the Serbian government’s handling of the coronacrisis and the announcement of a new lockdown descended into violent attacks on police and state buildings after they were taken over by far-right groups, some linked to Russia.
Whether incumbent President Andrzej Duda or the centre-right mayor of Warsaw Rafal Trzaskowski wins the run-off presidential vote, it will mark the start of several years of turmoil.
Both the ruling SDSM and opposition VMRO-DPMNE say they expect victory, but the electorate are more concerned about the seemingly unstoppable spread of the virus.
The coronavirus (COVID-19) pandemic has played hell with the international event calendar everywhere this year. But not in Mongolia, which has decided to go ahead with Naadam, Mongolia’s biggest festival.