International Ice Hockey Federation (IIHF) has stripped Belarus of the right to hold the World Championship this year
Russian opposition activist Alexei Navalny arrested on arrival as he returns home
LONG READ: The oligarch problem
COVID-19 and Trump’s indifference helped human rights abusers in 2020
Russian opposition activist Navalny calls for supporters to take to the streets this weekend
One of Russia’s biggest wood product companies, Segezha could be Sistema’s next IPO
Oligarchs trying to derail Ukraine’s privatisation programme, warns the head of Ukraine’s State Property Fund
New Ukrainian VC firm QPDigital aims to invest up to $100 million in digital startups
VISEGRAD BLOG: Central Europe's populists need a new strategy for Biden
OUTLOOK 2021 Lithuania
EBRD says loan to Estonia’s controversial Porto Franco project was never disbursed
Czech Pirates and Mayors approve final coalition agreement for 2021 elections
OUTLOOK 2021 Czechia
OUTLOOK 2021 Hungary
BRICKS & MORTAR: Rosier future beckons for CEE retailers after year of change and disruption
OUTLOOK 2021 Slovakia
FDI inflows to CEE down 58% in 1H20 but rebound expected
BALKAN BLOG: US approach to switch from quick-fix dealmaking to experience and cooperation
Corona-induced slump in global clothing sector dragged down Albania’s 2020 exports
BALKAN BLOG: The controversial recipe for building up Albania
Heavy flooding causes chaos in parts of Southeast Europe
Turnover rose on Bosnia's two stock exchanges in 2020 while prices fell
Storming parliaments: New Europe's greatest hits
Bulgaria’s government considers gradual easing of COVID-related restrictions
Sofia-based LAUNCHub Ventures holds first close of new fund on €44mn
ING THINK: Growth in the Balkans: from zero to hero again?
Labour demand down 28% y/y in Croatia in 2020
Zagreb Stock Exchange's Crobex10 index at highest level since March 5
OUTLOOK 2021 Kosovo
Arrera Automobili aims to launch Albania’s first supercar
OUTLOOK 2021 Moldova
World Bank revises projection for Moldova’s 2020 GDP decline to 7.2%
Moldova’s PM resigns to prepare the ground for early elections
Montenegrins say state administration is most corrupt institution
75% of Montenegrins want EU membership
Montenegro’s new ruling coalition carves up top state jobs
North Macedonia's manufacturing confidence indicator down by 8.5 pp y/y in December
OUTLOOK 2021 North Macedonia
OUTLOOK 2021 Romania
Romania’s central bank cuts monetary policy rate by 25bp to 1.25%
Romanian construction companies' activity slows in November after intense 2020
OUTLOOK 2021 Serbia
Slovenia’s opposition files no-confidence motion against Jansa cabinet
Slovenia’s government to release funds to news agency STA after EU pressure
UK Moneyhub picks Slovenia for post-Brexit European base
Slovenia’s dire COVID-19 situation in 4Q20 caused second economic dip
ISTANBUL BLOG: Biden must find a way to work with Trump’s strongman pal Erdogan
Turkcell denies any affiliation with $1.6bn loan in default extended by Ziraat Bank to Virgin Islands company
BEYOND THE BOSPORUS: Let’s tentatively pencil in a date for Turkey’s hot money outflow
CAUCASUS BLOG : What can Biden offer the Caucasus and Stans, all but forgotten about by Trump?
Armenia ‘to extend life of its 1970s Metsamor nuclear power plant after 2026’
OUTLOOK 2021 Armenia
COMMENT: Record high debt levels will slow post-coronavirus recovery, threaten some countries' financial stability, says IIF
OUTLOOK 2021 Georgia
Georgia’s political kingpin Bidzina Ivanishvili quits politics
TEHRAN BLOG: Will Biden bet on a quick return to the Iran nuclear deal?
Tehran Stock Exchange chief quits amid “Black Monday” fury
Durov rejects Western funds’ offer to buy 5%-10% of Telegram with $30bn valuation
Central Asia vaccination plans underwhelm, but governments look unruffled
Fears of authoritarianism as Kyrgyz populist wins landslide and backing for ‘Khanstitution’
Mongolia's winter dzud set to be one of most extreme on record says Red Cross
Mongolian coal exports to China paralysed as Beijing demands virus testing of truck drivers
Mongolia fears economic damage as country faces up to its first local transmissions of coronavirus
Mongolia in lockdown after suffering first local coronavirus transmissions
OUTLOOK 2021 Tajikistan
OUTLOOK 2021 Turkmenistan
Turkmenistan: How the Grinch stole New Year
COMMENT: Uzbekistan is being transformed, but where are the democratic reforms?
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Question: Hello - did you see Isarescu commenting on a potential ideal gap between the policy rate and inflation during the Q&A pls?
Answers: Hello, indeed Isarescu touched this topic. But it was about the gap between inflation and money market interest rates [not policy interest rate]. What he clearly said, was that no one should expect the interest rates to rise in line with inflation soon [this would be bankers' wishful thinking, he implied between the lines]. He also mentioned that the [nearly] 2pp between the interest rates and inflation in Europe [euro area] is same in Romania [more or less, with the gap wider in Romania judging by numbers] at this moment. He did not say whether the gap will remain the same, but he implied that the developments in Romania should [and he stressed, in his opinion] converge to the developments in Europe. Both the interest rates and inflation in Romania should converge to same levels as in Europe , he also added. Isarescu also mentioned debates among monetary board's members about the process of normalisation of the monetary policy in Europe -- by normalisation meaning the return to real positive interest rates, sterilisation and monetary transmission mechanism as we know it. It is a process that impacts Romania significantly, he stated, and its dynamics is still unclear. [such normalisation would compress the 2pp gap and in fact, eventually, turn it negative -- our comments here ] In conclusion, the 2pp gap should be regarded as a dynamic target -- likely to follow the developments in the euro area. Because otherwise, combined with the 3.5% y/y yearend conflagration target it would result in 1.5% interest rates at the end of the year [which is unrealistic]. The bottom line: Isarescu's comments were not about the policy rate, but about the interest rates. whole speech here https://www.youtube.com/watch?v=ttY05QnX034 with the para mentioned starting min45
The Asian Development Bank (ADB) last week appointed a Kazakh national, Eugene Zhukov, as director general of its Central and West Asia Regional Department. ... ...
The amount of private finance mobilised by multilateral development banks (MDBs) and development finance institutions (DFIs) reached $175bn in 2019, up 9% compared to the previous year, according to ...
The Eurasian Development Bank (EDB) is “prepared” to finance the development of coronavirus (COVID-19) vaccine production in the Eurasian Economic Union (EEU) member states, ...
Enguri hydropower plant (HPP), the largest electricity producer of Georgia and also the power supplier to the Russian-occupied region of Abkhazia, will be closed for repairs for three months from ...
The European Bank for Reconstruction and Development (EBRD) has provided a loan of PLN117mn (€26mn) to a joint-venture of Finland’s investment fund Taaleri Energia and Masdar from the United Arab ...
The European Bank for Reconstruction and Development (EBRD) is providing a loan of up to $58mn to Turk Ekonomi Bankasi A.S. (TEB) in support of local small businesses facing liquidity ...
The European Bank for Reconstruction and Development (EBRD) has published a report on its activitiies in Uzbekistan in 2020. Central Asia’s most populated country during the exacting year saw funds ...
The Budapest-based International Investment Bank (IIB) has announced the private placement of a €30mn 20-year bond with a German insurance company to kickstart the year under its MTN Programme, the ...
Iranian Foreign Minister Mohammad Javad Zarif on January 17 lashed out at claims from French counterpart Jean-Yves Le Drian made in an interview with the Journal du Dimanche that Iran is building up ...
Kosovo’s government announced on January 15 it approved €222.4mn as part of the economic recovery package for 2021 to deal with coronavirus (COVID-19). Kosovo’s PM Avdullah Hoti said ...
Latvia’s central bank, Latvijas Banka, has revised its GDP and inflation forecasts. In the light of the latest global economic developments, including the implications of the second wave of the ...
Turkish flour producer Ulusoy Un is to get a fresh financial shot in the arm to help it keep up with high demand from pasta-makers, bakeries and locked-down customers as ...
The European Investment Fund (EIF) and Raiffeisenbank Bulgaria signed a €100mn agreement for guarantees under the JEREMIE programme for financing of local small and medium-sized enterprises, the ...
VEB Ventures, the subsidiary of Russian development bank VEB.RF (former VneshEkonomBank), has invested RUB500mn ($7mn) in the cargo flow digitisation start-up Deliver, Kommersant daily ...
Workers and inhabitants of Turkmenistan’s city of Turkmenabat are being forced to take part in midnight cleaning sprees in the cold, Hronikatm reported on January 14. Locals, attempting to avoid ...
Concern is mounting over Turkey’s ‘wealthless sovereign wealth fund’, which is exempted from public auditing. Critics claim the sovereign wealth fund (SWF), named the Turkey Wealth Fund ...
Serbia’s President Aleksandar Vucic was fined €1,700 by the Belgrade First Basic Court for calling far-right opposition leader Bosko Obradovic a fascist and thief, Obradovic announced on Twitter. ...
The European Bank for Reconstruction and Development (EBRD) invested a record €11bn in 411 projects in 2020, a 10% year-on-year increase, stepping up investments as the 38 economies where it ...
Wizz Air sold €500mn worth of three-year bonds at an interest rate of just 1.35% on January 13 after receiving more than €2bn of orders from investors, ...
The European Bank for Reconstruction and Development (EBRD) is to support small and medium sized enterprises (SMEs) in Kazakhstan by sharing up to 50% of risk on a ...
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