The Serbian economy performed well during the first quarter of 2020. Structural factors, such as a smaller dependence on tourism, as well as effective fiscal and monetary responses, have significantly alleviated contractionary pressures. However, guiding the economy throughout the rest of the year will be a more laborious endeavour. 

Venezuelan President Nicolas Maduro Moros and several top-level officials in Venezuela were indicted on charges of “narco-terrorism” by U.S. Attorney General William Barr on Thursday the 26th of March, 2020. This indictment follows a months-long escalation of tensions between Caracas and Washington D.C. 

On the 1st of April 2020, India adopted the BS-VI emission norms. The move places India in a select group of economies with Euro VI-compliant fuels. However, the move to low sulphur transport fuel is fraught with downside risk given the impact of COVID 19 on the Indian economy. The capital-intensive move by refineries and automobile manufacturers has now moved into a stage where the revival of demand and coordinated price adjustment is essential for cost recovery.