Latest Articles about Economics
Why Are Georgians Afraid of Greece’s Financial Default?
Georgians have shown a keen interest in the events in far-away Greece, which has been on the verge of leaving the Eurozone, if not the European Union itself. All news programs on Georgian TV now routinely begin with the latest news about negotiations between EU... MORE
BRICS for Greece
It appeared too great a temptation to pass up for the Kremlin when Greece’s impending default and exit from the Eurozone or even the European Union (the so-called Grexit) occurred simultaneously with the annual BRICS summit, this time under Russian leadership, in Ufa, on July... MORE
Kazakhstan Finally Gains WTO Membership
On June 10, Kazakhstan and the World Trade Organization (WTO) announced they had reached an agreement for Kazakhstan’s accession to the trade body, bringing an end to an almost 20-year negotiation process that began when the Central Asian republic applied in January 1996 (Wto.org, June... MORE
Italy’s Energy Policy Untouched by Turkish Stream’s Flop
In a surprising turn of events, on July 8, the Russian state-run natural gas monopoly Gazprom canceled a contract with the Italian oil and gas services group Saipem. The two companies were supposed to jointly build the first line of Turkish Stream, the Moscow-backed pipeline... MORE
Elections, Identity and Economic Decline in Belarus
The Belarusian parliament endorsed a new date for the upcoming presidential elections: October 11. It is unlikely that shifting elections from November (as originally planned) to October will make a difference either in terms of negative trends in the economy or in terms of the... MORE
Lack of Political Reforms Undermines Karachaevo-Cherkessia Stability
On June 27, the Circassian organization Adyge Khase held a conference in Karachaevo-Cherkessia. Participants accused the republic’s authorities of neglecting Circassian villages and putting pressure on Circassian businesses, calling for an extraordinary conference of the Circassian people. Circassians in Karachaevo-Cherkessia accuse the republican authorities of... MORE
It’s All About the Ruble: How to Resolve the Looming Regional Economic Crisis in Central Asia?
On June 22, the World Bank approved $12 million in additional financing for Tajikistan for a project creating temporary employment in rural districts (clearing irrigation and drainage canals). This financing is a specific effort to assist the country in tackling the impact of falling remittances... MORE
Ukraine, Private Creditors Take a Step Toward Debt Solution
Ukraine has taken one step back from looming default as an agreement was reached to start direct talks with Kyiv’s biggest private creditors. This is despite a setback with Russia, which has refused to discuss the restructuring of a loan issued in 2013 as a... MORE
Russia’s New Energy Accords: Are They for Real?
Given the centrality of energy to the Russian economy and the withering impact of continuing low energy prices and sanctions, Russia has ample reason to promote energy deals with anyone it can find. The annual St. Petersburg International Economic Forum has historically served as a... MORE
Moscow Tries to Tighten Grip on North Caucasus’ Economic Life
Deputy Russian Prime Minister Alexander Khloponin made a surprising statement earlier this month (June) about impending sweeping changes in how Moscow subsidizes the North Caucasus. “Instead of subsidies for the republics we will be developing ‘anchors’—key projects in which federal budget funds will be invested... MORE