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EM starts Covid-19 vaccination programmes
Weekly investor research
18 January 2021
The African Union secured 270m doses of Covid-19 vaccines independently of the COVAX alliance. Turkey administered more than 700k doses of vaccine in only four days as Brazil starts vaccinating its population only minutes after two vaccines were granted national regulatory approval. India also started the world’s largest vaccination campaign with a target of inoculating 300m people by August this year. Indonesia’s President Joko Widodo “Jokowi” was the first to receive the CoronaVac vaccine. Chinese economic data surprised to the upside as President Xi Jinping struck an unusual optimistic tone in a speech. Chile announced the purchase of USD 12bn in the spot FX market to replenish foreign exchange reserves. Ecuador secured a cheap USD 3.5bn credit line from a US institution. Angola received a new IMF tranche and obtained better terms on its Chinese loans. In Taiwan, TSMC reported stronger than expected results and issued positive forward guidance. Russia detained opposition candidate Alexey Navalny. Malaysia declared a state of emergency. The Romanian central bank unexpectedly cut the policy rate. Uganda’s President Museveni was elected president for a sixth term in an election without the presence of international observers.