Joe Biden’s chances of securing the US presidency are rising and it looks like there will be a divided government in the Senate. The ruble has appreciated since the election, but the risk of tighter sanctions on Russia, as well as Turkey, remains high. Meanwhile, countries in Central and Eastern Europe are continuing to battle COVID-19 outbreaks, though there is a clear divergence in the approach to containment measures. Extra policy support will at least help to soften the economic blow.
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