Global Markets: Ceasefire attempts in two wars

By MarketsFarm

WINNIPEG, Oct. 23 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– United States Secretary of State Mike Pompeo is scheduled to meet separately with his counterparts from Armenia and Azerbaijan on Friday in Washington, D.C. Pompeo will try to cobble together a third cease-fire agreement. Since Sept. 27 Armenia and Azerbaijan have been at war over the Nagorno-Karabakh, an Armenian enclave that’s officially part of Azerbaijan. Two previous cease-fire agreements brokered by Russia fell apart when fighting resumed. The leaders of both warring countries said the chances of reaching an agreement were slim. There are concerns the conflict could draw in Turkey and Russia, as well as threaten strategically important oil and gas pipelines.

– In another war, the United Nations said on Friday that a ceasefire agreement was reached in the Libyan Civil War. The UN brokered the deal between the internationally recognized Government of National Accord and the rebel Libyan National Army in Geneva. Part of the deal includes all foreign forces and mercenaries to leave Libya within three months. Also, negotiations will continue in Tunisia on a permanent peace agreement. The country has been wrought with internal strife following a NATO-supported revolution that ended the dictatorship of Muammar Gaddafi 10 years ago.

– Following voting that took place earlier in Bolivia; the official vote count confirmed on Friday that Luis Arce, the leader of the leftist Movement for Socialism, will become the South American country’s next president. Arce received 55.1 per cent of the ballots cast to 28.8 per cent for his closest rival Carlos Mesa, the leader of Civic Community, an alliance centrist and centre-right parties. The election came after a 2019 coup d’état ousted President Evo Morales in which a conservative regime took power.

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