Spillovers from Russia and the war in Ukraine have been minimal, confounding initial expectations
Stronger than expected remittances have supported growth, while policy discipline has been maintained
No immediate threat to financing picture, despite higher bond yields, amid strong FX reserves, low debt; maintain Buy
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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").
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