A British court has unfrozen $99 million in property belonging to the former president’s daughter and grandson, only after they spoke more candidly about the sources and scope of their wealth than they have ever done at home.
While the government seems to concede the inevitability of the incipient downturn, it is still clinging to rosy economic performance figures. This and more in our weekly Turkmenistan briefing.
Trade has plummeted, Chinese goods are disappearing from markets, and exports of China’s favorite Central Asian commodity – natural gas – have nosedived.
The Georgian lari has become one of the fastest depreciating currencies in Europe, despite the fact that coronavirus has hit the country relatively weakly.
As the government pretends everything is normal, families are in a state of deepening anxiety over a perfect storm that could plunge the country into an unusually severe crisis.
The region is tightening belts and preparing for pain. But there are reasons to hope the trickledown from Russia won’t be as bad as last time, in 2014.
