Bulgaria sets April 2020 as new target for entering ERM2

Frankfurt, Germany (Chris Goldberg, CC BY-NC 2.0)

Gas transit across Ukraine must be retained

EU will provide EUR25m to support Moldova's rule of law

Bulgaria

Bulgaria hopes to join the ERM-2 exchange rate mechanism by April 2020, Finance Minister Vladislav Goranov informed, pushing back Sofia’s target of joining before year-end. This week the EU insurance watchdog EIOPA gave its nod for Bulgaria to enter the Eurozone’s “waiting room” in a letter to the European Commission, leaving the European Central Bank as the last EU institution to have its say on whether Sofia should be allowed to join the ERM-2 mechanism.

“Bulgaria, whose BGN is already pegged to the EUR, meets the nominal criteria to adopt the single currency, with healthy public finances and low debt,” EIOPA stressed in its press release.

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Ukraine

“Gas transit through Ukraine must be retained irrespective of construction of the Nord Stream 2 gas pipeline,” Steffen Seibert, spokesman for German chancellor Angela Merkel said, Inter-fax news agency reported. The European Commission also expects that the Nord Stream 2 gas pipeline will function in accordance with international and European laws, EC spokesperson Anna-Kaisa Itkonen said at a press conference on Thursday, TASS news agency informed.

“We have clear rules that apply to all pipelines that are used to import gas into the European market,” Ms. Itkonen stressed.

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Moldova

The European Commission has approved the disbursement of EUR25m to help Moldovan new government to deliver key reforms in policing, the fight against corruption and money laundering, agriculture and rural development.

This new payment follows two budget support payments made in July (EUR14.54m) and in October 18th (EUR14.35m), as well as the first installment of Macro-Financial Assistance of EUR30m.

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What’s up in indexes

BET (of Bucharest) decreased from 9685.02 index points Wednesday, October 30th to 9570.16 index points Thursday, October 31st. It’s down 0.99 per cent d/d and up 12.3 per cent y/y.

BUX (of Budapest) decreased from 42797.00 index points Wednesday, October 30th to 42160.00 index points Thursday, October 31st. It’s down 1.49 per cent d/d and up 13.5 per cent y/y.

OMXR (of Riga) increased from 1019.44 index points Wednesday, October 30th to 1025.45 index points Thursday, October 31st. It’s up 0.59 per cent d/d and up 7.65 per cent y/y.

OMXT (of Tallinn) increased from 1248.06 index points Wednesday, October 30th to 1253.22 index points Thursday, October 31st. It’s up 0.41 per cent d/d and up 6.15 per cent y/y.

OMXV (of Vilnius) decreased from 702.32 index points Wednesday, October 30th to 701.90 index points Thursday, October 31st. It’s down 0.06 per cent d/d and up 7.82 per cent y/y.

PX (of Prague) decreased from 1061.88 index points Wednesday, October 30th to 1050.87 index points Thursday, October 31st. It’s down 1.04 per cent d/d and down 1.48 per cent y/y.

RTS (of Moscow) decreased from 1431.90 index points Wednesday, October 30th to 1422.92 index points Thursday, October 31st. It’s down 0.63 per cent d/d and up 26.3 per cent y/y.

SAX (of Bratislava) decreased from 347.12 index points Wednesday, October 30th to 346.07 index points Thursday, October 31st. It’s down 0.24 per cent d/d and up 3.60 per cent y/y.

SOFIX (of Sofia) increased from 555.80 index points Wednesday, October 30th to 556.80 index points Thursday, October 31st. It’s up 0.17 per cent d/d and down 6.70 per cent y/y.

UX (of Kyiv) increased from 1509.86 index points Wednesday, October 30th to 1517.17 index points Thursday, October 31st. It’s up 0.48 per cent d/d and down 12.85 per cent y/y.

WIG20 (of Warsaw) decreased from 2227.38 index points Wednesday, October 30th to 2194.10 index points Thursday, October 31st. It’s down 1.49 per cent d/d and up 1.96 per cent y/y.

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