Jumia is known as the Amazon of Africa. Sea’s exponential rise has made it the largest company in ASEAN, a region of 600mn people. We identified Fawry as an EM tech stock to watch in July 2020, when the pre-unicorn company had a market cap of US$735m...

Chairman Glapiński underlined that rate cuts are only warranted given a substantial deterioration in economic prospects. In the current scenario envisaged by the central bank Glapiński sees flat rates until the end of the Monetary Policy Council term...

The decline in core inflation is mainly the result of lower growth in services prices (6.4% YoY in December vs. 7.8% YoY in November). This is a result of demand disruption caused by the introduction of new restrictions, as well as an acceleration of...

December FX interventions by the National Bank of Poland and a change of rhetoric by some MPC members made the market price a rate cut. As we expected, no interest rates were changed. The novelty is the sentence about the possibility of using interve...

Natural gas imports from Azerbaijan (which started last week) are a milestone for the EU. Pressure is mounting on the country to move away from coal power, as the EU is pushing hard – but will likely fail – to phase out coal by 2030. If the EU pushes...

Already in 2020, we have seen a large number of sovereign defaults, notably in Argentina, Belize, Ecuador, Lebanon, Suriname and Zambia. Meanwhile, Bahrain (+9ppt to 137%), Brazil (+2ppt to 104%) and South Africa (+6ppt to 85%) see more modest increa...