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Weaker ruble will add to inflationary pressures

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RUSSIA

The size of the rate hike attests to the CBR’s determination to tame domestic price rises at all costs, even though this is likely to restrict credit growth and dampen output. The…

Sudan's civil war will grind on

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SUDAN

Thousands of combatants and civilians have been killed, over 8 million people (around one-fifth of the population) have been displaced and 18 million face severe acute food…

China cracks down on its financial sector

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CHINA

The authorities have also pressured many financial entities into cutting pay and benefits and carried out broad reforms of financial regulators. These moves may be part of…

Gulf states will reinforce investment strategies

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GULF STATES

US banking stress reinforces risks for Gulf Cooperation Council (GCC) sovereign wealth funds (SWFs), although they are not significantly exposed to global banks directly. GCC SWFs…

Turkey's return to economic orthodoxy may waver

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TURKEY

The statement implies that a return to economic orthodoxy is likely, following two years of unorthodox policies built around Erdogan’s preference for low interest rates. The…

Limited resources will check BRICS financial clout

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INTERNATIONAL

BRICS members seek to reduce the dominance of the US dollar in global trade; a less dollar-focused approach to development finance from the NDB is consistent with this. The BRICS…

Seized Western assets will go to Kremlin allies

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RUSSIA

This follows the transfer of the assets of energy companies Uniper and Fortum three months earlier. Temporary management is likely to end in eventual nationalisation, and a…

Smaller trade surplus will keep ruble low this year

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RUSSIA

Pronounced ruble depreciation this year attests to the efficacy of sanctions in disrupting Russia’s external trade. The weaker ruble has already provoked a spike in household…

Ethiopia faces tough negotiations around IMF programme

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ETHIOPIA

Addis Ababa must reach an agreement with the IMF to honour its commitments under its debt-service suspension agreement with official creditors. Thereafter, further talks will be…

Lebanon’s central bank vacuum heralds more devaluation

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LEBANON

A cabinet meeting yesterday to discuss a replacement failed to achieve quorum, as key political forces boycotted it. The first deputy governor, who succeeds by default, has…