Uzbekistan’s external debt soared to $21.2 billion, or 36.5% of GDP, as of the end of 2020. This was almost exactly in line with an October 2020 forecast of Fitch Ratings. Five years ago, the GDP ratio stood at 16%. Tashkent has justified the rising external borrowing by pointing to social demands that require urgent…
Imports rose by 13% YoY in January, state agency Statistics Estonia reported, while exports grew by 4%. Evelin Puura, Statistics Estonia leading analyst, said the primary contributor to foreign trade in January was the increased trade in oil products and mineral fuels, partly the result of higher prices global crude oil prices. Meanwhile, the largest…
On March 10, the State Treasury issued ten-year bonds on financial markets on Latvia’s behalf, raising financing of EUR 1.25 billion. The ten-year bonds have profitability of 0.105% and a coupon rate 0.000%, which is historically the lowest level of long-term bond profitability and coupon level achieved for Latvian state bond issue on international financial…
Ukraine is implementing 40 projects in cooperation with international financial institutions (IFIs), the press service of the Finance Ministry has reported referring to data as of March 1. The total amount of loans under joint programs is EUR 5.66 billion and $3.09 billion. Of these funds, $1.73 billion and EUR 1.69 billion have been already…
The government is to make available a further EUR 8.5 million in crisis support for the tourist sector, pending the go-head from the European Commission. The main target groups in the support will be hotels and other accommodation businesses, travel agents, restaurants and other eateries in Tallinn’s Old Town, and manufacturers of handicrafts and other…
Foreign ministers of Uzbekistan and Turkey have agreed to boost trade to $5 billion, as officials met in Tashkent on March 9. On the same day, they signed a memorandum of understanding to improve bilateral relations and cooperation. Turkish Foreign Minister Mevlut Cavusoglu said that despite the pandemic, the trade hadn’t decreased, but soared to…
The local government agencies of Zakarpattia region and Hungary have concluded 141 agreements on cooperation, in particular on the supply of BCG vaccine, the reconstruction of palaces and cultural monuments and the construction of a waste sorting plant, Chairman of Zakarpattia Regional Council Oleksiy Petrov has said on Facebook. According to Petrov, cooperation between Hungary…