Currency, mergers lead Baltic International Bank ‘TOP 21’ list
The Baltic International Bank has joined with financial experts to publish its first semi-annual list of the ‘TOP 21’ factors affecting investors in the CIS/Baltic States region.
According to the list, the three most important events in the first half of 2011 were Estonia’s changeover to the euro and accession to the eurozone, the devaluation of the Belarusian ruble, and Russia’s merger deal between MICEX (Moscow Interbank Currency Exchange) and RTS (Russian Trading System).
Key events in Latvia – where BIB is headquartered – include president Valdis Zatler’s decision to initiate the dissolution of the Saeima (the Parliament of the Republic of Latvia), the upgrade of Latvia’s sovereign credit ratings, and Latvia’s successful sale of 10-year Eurobonds on international markets.
Ilona Gulchak, chair of the board said: “The ‘TOP 21’ selection mainly focuses on the events and processes that have affected – and will continue to affect – the investment environment in the long run. Particular events, such as Estonia’s adoption of the euro, can certainly be called historic. We are happy to see Latvia appearing on the list amid a string of positive developments.”
The ‘TOP 21’ lists 21 events based on the opinions of 21 experts rating the most important economic, social and legislative processes and investment deals. The selection for the first half of 2011 was distilled down from more than 70 initial suggestions. The aim of the twice-a-year list is to provide an overview of the investment environment, reveal the trends impacting this environment, and help evaluate economic processes.