Dear colleagues –
in addition to the COVID-19 health and vaccine related data I send to you each week, I will start to share an additional economic update with you, focusing on macro-financial data across the Europe and Central Asia region. Copying Koba
and Irakli in for info. as well. As always, the WBG team stands ready to answer any questions you may have.
Kind regards
Sebastian
Long-term bond yields have increased further in selected advanced and regional economies this week
Most commodity prices continued to rise this week - but gold is losing value
Other highlights from this week’s high-frequency charts (attached)
·
FX: Turkey’s lira continued to be the most appreciating regional currency this week, but currencies of Russia, Belarus, Georgia, Ukraine and Kazakhstan also appreciated. Polish, Hungarian and Croatian currencies on the
other hand all depreciated markedly this week.
·
Sovereign risk: While risk levels are not spiking, they continue to rise in Ukraine and Armenia.
·
Equity: Emerging Europe equities continue to recover for the rout in late January and gained 2 percent this week. This trend is common with most emerging regions, although Latin American equities remain depressed.
·
Inflation: In Romania, inflation picked up to 3 percent in January, but declined in N. Macedonia and Albania.
·
Real activity: December data confirmed retail sales growth in Romania and Turkey remained positive over 2020.
·
Exports: Poland posted positive export growth over 2020 with a strong recovery late in the year.
·
Tourism: Data to December show tourism arrivals slumping, with N. Macedonia the least-worst affected at the end of the year.
·
Credit markets: Credit growth came down in January slightly in Turkey and Poland – two of the countries where it has been most elevated.
·
Fiscal: December data for Albania shows the 12-month deficit growing there, to close to 8 percent of lagged GDP.
·
No updates on interest rates this week..
Country-specific updates
Armenia
Belarus
Croatia
Georgia
Kazakhstan
North
Macedonia
Romania
Russia
Turkey
Ukraine
Thank you and kind regards,
Sebastian
Sebastian Molineus
Regional Director for the South Caucasus
Europe and Central Asia
T
+995 (32) 291 6238
M
+995 (577) 78 7821
M
+1 (202) 492-3914
E
smolineus@worldbank.org
W
www.worldbank.org/en/region/eca
@smolineus
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From: Sebastian-A Molineus
Sent: Monday, February 8, 2021 10:37 PM
To: Maya Tskitishvili
Cc: Ekaterine Mikabadze
Subject: RE: Our standing WB offer to support the government of Georgia during the COVID-19 crisis
Dear all -
In follow-up to Friday’s meeting and as discussed, please find attached a status update of COVID-19 Vaccines within the WHO EUL/PQ evaluation process for info.
Thank you and kind regards,
Sebastian
Sebastian Molineus
Regional Director for the South Caucasus
Europe and Central Asia
T
+995 (32) 291 6238
M
+995 (577) 78 7821
M
+1 (202) 492-3914
E
smolineus@worldbank.org
W
www.worldbank.org/en/region/eca
@smolineus
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From: Sebastian-A Molineus
Sent: Sunday, February 7, 2021 7:27 PM
To: Maya Tskitishvili <m.tskitishvili@mrdi.gov.ge>;
nturnava@moesd.gov.ge;
etikaradze@moh.gov.ge; 'i.matchavariani@mof.ge' <i.matchavariani@mof.ge>
Cc: Ekaterine Mikabadze <emikabadze@moesd.gov.ge>;
inadareishvili@moesd.gov.ge;
tgabunia@moh.gov.ge; 'n.gagua@mof.ge' <n.gagua@mof.ge>; Evgenij Najdov <enajdov@worldbank.org>; Ahmet Levent Yener <alyener@worldbank.org>;
Abdulaziz Faghi <afaghi@worldbank.org>; Thea Gigiberia <tgigiberia@ifc.org>; Salome Bakradze <S.Bakradze@mof.ge>;
mghadua@moh.gov.ge;
s.bakradze@mof.ge; mghadua@moh.gov.ge; Maia Duishvili <mduishvili@worldbank.org>
Subject: RE: Our standing WB offer to support the government of Georgia during the COVID-19 crisis
Dear colleagues – please find attached and below our weekly COVID-19 monitoring presentation and weekly update (sorry for distributing slightly late).
Best, Sebastian
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Thank you and kind regards,
Sebastian
Sebastian Molineus
Regional Director for the South Caucasus
Europe and Central Asia
T
+995 (32) 291 6238
M
+995 (577) 78 7821
M
+1 (202) 492-3914
E
smolineus@worldbank.org
W
www.worldbank.org/en/region/eca
@smolineus
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From: Sebastian-A Molineus
Sent: Thursday, January 28, 2021 9:00 AM
To: Maya Tskitishvili <m.tskitishvili@mrdi.gov.ge>;
nturnava@moesd.gov.ge;
etikaradze@moh.gov.ge; 'i.matchavariani@mof.ge' <i.matchavariani@mof.ge>
Cc: Ekaterine Mikabadze <emikabadze@moesd.gov.ge>;
inadareishvili@moesd.gov.ge;
tgabunia@moh.gov.ge; 'n.gagua@mof.ge' <n.gagua@mof.ge>; Evgenij Najdov <enajdov@worldbank.org>; Ahmet Levent Yener <alyener@worldbank.org>;
Abdulaziz Faghi <afaghi@worldbank.org>; Thea Gigiberia <tgigiberia@ifc.org>; Salome Bakradze <S.Bakradze@mof.ge>;
mghadua@moh.gov.ge;
s.bakradze@mof.ge; mghadua@moh.gov.ge; Maia Duishvili <mduishvili@worldbank.org>
Subject: RE: Our standing WB offer to support the government of Georgia during the COVID-19 crisis
Dear colleagues –
Please find below and attached our WB weekly update on key COVID indicators across the Region and also globally, with a particular focus on vaccinations. Please also find attached the weekly ECA COVID-19 Monitoring presentation with key
indicators across the region.
Best regards,
Sebastian
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Thank you and kind regards,
Sebastian
Sebastian Molineus
Regional Director for the South Caucasus
Europe and Central Asia
T
+995 (32) 291 6238
M
+995 (577) 78 7821
M
+1 (202) 492-3914
E
smolineus@worldbank.org
W
www.worldbank.org/en/region/eca
@smolineus
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From: Sebastian-A Molineus
Sent: Thursday, January 21, 2021 10:12 PM
To: Maya Tskitishvili <m.tskitishvili@mrdi.gov.ge>;
nturnava@moesd.gov.ge;
etikaradze@moh.gov.ge; 'i.matchavariani@mof.ge' <i.matchavariani@mof.ge>
Cc: Ekaterine Mikabadze <emikabadze@moesd.gov.ge>;
inadareishvili@moesd.gov.ge;
tgabunia@moh.gov.ge; 'n.gagua@mof.ge' <n.gagua@mof.ge>; Evgenij Najdov <enajdov@worldbank.org>; Ahmet Levent Yener <alyener@worldbank.org>;
Abdulaziz Faghi <afaghi@worldbank.org>; Thea Gigiberia <tgigiberia@ifc.org>; Salome Bakradze <S.Bakradze@mof.ge>;
mghadua@moh.gov.ge;
s.bakradze@mof.ge; mghadua@moh.gov.ge; Maia Duishvili <mduishvili@worldbank.org>
Subject: RE: Our standing WB offer to support the government of Georgia during the COVID-19 crisis
Dear colleagues – below and attached our WB COVID-19 update with key indicators across the region and world. As always, we remain available to help, in particular with respect to the vaccination roll-out.
Kind regards, Sebastian
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Thank you and kind regards,
Sebastian
Sebastian Molineus
Regional Director for the South Caucasus
Europe and Central Asia
T
+995 (32) 291 6238
M
+995 (577) 78 7821
M
+1 (202) 492-3914
E
smolineus@worldbank.org
W
www.worldbank.org/en/region/eca
@smolineus
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