TODAY’S TOP ARTICLES – 22 AUG 2014

Indonesia: Court Confirms Joko Widodo as Indonesia’s Next President as Police Stop Prabowo Supporters
Indonesia’s next president will certainly be Joko Widodo after the country’s Constitutional Court made a “final and binding” decision that comprehensively rejected the appeal mounted by his rival, Prabowo Subianto. (Source: Sydney Morning Herald)

Ukraine: Ukraine’s Poroshenko Talks Tough Ahead of Meetings with Merkel, Putin
Ukrainian President Petro Poroshenko said on Thursday he would call on Russian President Vladimir Putin to rein in pro-Russian separatists when the two men meet next week and told the Kremlin chief he had “a strong country, a strong army” behind him. (Source: CNBC)

Argentina: Argentina’s Bond Swap Plan Called Illegal by U.S. Judge
U.S District Judge Thomas Griesa said on 22 August that Argentina’s proposal to pay its debt beyond the reach of U.S courts is not accepted. Argentinian President Cristina Fernandez de Kirchner proposed on 19 August to swap its restructured debt for bonds that would be issued under local law and paid through a government-controlled bank. (Source: Bloomberg)

Brazil: Brazil’s Central Bank Takes Action As Economic Outlook Worsens
Brazil’s Central Bank injected $12 billion into the economy this week following projections of slow GDP growth. This is the second time the Central Bank has provided some sort of stimulus to lenders. Banks will now be allowed to use up to 60% of reserves for credit operations, which is up from the previous 50% limit. (Source: Forbes)

India: RBI to Conduct Frequent Term Repos for Flexible Cash Management
The Reserve Bank of India (RBI) stated that it would conduct more frequent term repos but retained the overall borrowing limit for lenders. The aim of the Bank is to make borrowing more flexible without injecting additional liquidity into markets. (Source: Reuters)

For the latest economic indicators from around the world, please visit us at Focus-Economics.com.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s