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20 - 26 August
2016
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From
the CEO OF EMIS
The last week has been a momentous one for one of EMIS’s biggest and most important markets. Colombia’s government and the guerrilla group (FARC) reached agreement on ending a conflict that has lasted over 50 years and cost more than 200,000 lives. Negotiations around the settlement have been drawn-out and difficult but the process has been facilitated by Colombia’s relatively strong economic health in recent times.
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Reduced poverty levels and a general improvement in the prospects for the majority of Colombians in the past 20 years have removed many of the conditions under which FARC had previously thrived.
But the situation is still a little precarious. While agreement has been reached by the main actors, ratification is still required through a public vote in October. A conflict such as this leaves many scars and it is yet to be seen whether a majority of Colombians are prepared to accept some of the more contentious aspects of the settlement such as how to deal with war criminals on both sides.
It’s probably an exaggeration to suggest that Colombia’s prosperity and progress is entirely dependent on this vote. Many commentators believe that factors such as commodity prices have a greater bearing on the country’s economy. But political stability is so often the key to economic prosperity in emerging markets and it’s to be hoped that Colombians grasp the opportunity they have to put the difficult politics of the past behind them in October.
Guy Dunn
Chief Executive Officer.
P.S. Below are some articles related to the Colombian peace accord from the EMIS platform in the past week.
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EUROPE GRANTS A CREDIT LINE FOR COLOMBIA PEACE PROCESS
The European Parliament approved a $450 million credit line for Colombia, which is set to end a 52-year-long armed conflict with far-left FARC rebels. The credit line will supplement a $79 million peace fund that was agreed to between the European nations last year.
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REFERENDUM IN COLOMBIA: UNCERTAINTY ON PEACE ACCORD TERMS
After four years of arduous negotiations in Cuba, the effort to end the civil war -- which has killed hundreds of thousands of people across more than half a century of fighting -- now comes down to a yes-or-no vote.
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PEACE AGREEMENT: COLOMBIANS WILL DECIDE THEIR FUTURE IN A PLEBISCITE
As Colombians celebrate the most important moments in the country's history after a peace agreement was reached between the government and the FARC guerrillas on Wednesday, the future of Colombia now rests in the millions across the country.
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Infographic
of the week
Vienna Insurance Group AG (VIG) is to expand its market share in the Romanian life insurance market through the acquisition of the Romanian AXA Life Insurance S.A, announced in early August. The deal is still pending standard closing procedures and regulatory approval. After the acquisition, AXA will exit the Romanian market, while VIG will increase its already dominant position in Romania, currently represented by VIG’s company BCR Life.
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Weekly
News summary
Below
are the most read articles in the past week on EMIS
Perspectives, our daily blog of
emerging market news and insights.
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