India: Rate is cut again and domestic gas prices fall

The Reserve Bank of India cut its policy interest rate to a new low yesterday, a larger than expected move, in a bid to turn the economy around and promote growth. The RBI has been in a race with China to cut its rates pre-emptively, and to keep its rates low while US federal funds…

Advertisement

Iran Issues $300 Million in State Treasury Bills

Iran announced that it will issue $300 million in state treasury bills, an Iranian alternative to sovereign debt that is sharia-law compliant. The bills are being issued well below their market value for the time being and are seen as a means of gauging interest in the opening Iranian market. The Iranian government has previously…

Turkmenistan Between East and West: An Interview with Sebastien Peyrouse

We recently had the opportunity to sit down with Dr. Sebastien Peyrouse, Research Professor of International Affairs at the Elliott School of International Affairs, George Washington University. Dr. Peyrouse is an Associated Scholar with the Institute for International and Strategic Relations in Paris, France and has published widely on Central Asia, with an emphasis on Turkmenistan. He…

IAEA Visits Previously Inaccessible Iranian Nuclear Site

The IAEA recently visited Parchin, an Iranian military site which had been off limits for the past decade. The head of the agency lauded the Iranian government for what he described as significant progress in governmental cooperation with the IAEA. The UN watchdog also analyzed samples from the facility and “observed” recent renovations in the…

Russia: Local elections draw criticism from opposition

Opposition party candidates, hoping to finally secure seats in the Russian Duma later next month, were met with complete failure after regional elections showed that the ruling United Russia party won every regional poll across the country. Other mainstream Russian parties like the Communist party, Liberal Democratic Party, and a Just Russia also made a…

Moldova Confronts Currency, Graft Crises

The Moldovan central bank has intervened to prop up national currency leu at the urging of Moldovan Prime Minister Valeriu Strelet to “take all necessary measures” to slow a seven month decline in the leu’s value. The central bank has raised the national interest rate to 19.5 percent, a jump of two percent. Moldovan central…

Kazakhstan: Central Bank intervenes to stabilize currency

Kazakhstan’s Central Bank just sold another $144 million in dollars from its reserves attempting to stabilize the tenge, blaming the 1.2% daily decline on the actions of “speculators.” Central Bank governor Kairat Kelimbetov allowed on August 20 of last month for the currency to float freely after the Chinese Central Bank allowed the yuan to…