The Russian ruble weakened on Wednesday after the Central Bank conducted its first overnight ruble-dollar currency swap for $581.4 million in a move to boost banking liquidity, according to Reuters.

“Central bank interventions can help stabilize the current slide of the ruble, but will not reverse the overall depreciation trend of the currency, especially as the dollar strengthens and oil prices decrease. There is risk of another bout of depreciation when a large number of Russian companies will have foreign exchange-denominated debt coming due and would require foreign currency.”

- Martina Bozadzhieva, Head of Research for Europe, Middle East & Africa

A U.S. judge has declared Argentina in contempt of court in response to the nation’s attempts pay bondholders in defiance of his rulings, according to Monday’s article in the Wall Street Journal.

“Multinationals should plan for a deepened recession in 2014. The US ruling will not only prolong Argentina’s default, but perceptions of macroeconomic mismanagement could trigger a severe crisis of confidence, which would lead to a further falloff in private investment and consumption.”

- Gabriela Mallory, Senior Analyst for Latin America

Indian Prime Minister Narendra Modi launched his ‘Make in India’ campaign on Thursday, according to CNBC. The initiative, launched ahead of Modi’s first official visit to the U.S., aims to revive India’s manufacturing sector through higher domestic and foreign participation, but analysts say more must be done before ‘Make in India’ sees real success.

“‘Make in India’ - Another public relations stunt? While targeted in the right direction, the India government will need to do more to in order to spur wide-scale industrialization and convert the huge levels of interest from MNCs into investments. India needs to implement major reforms on land, labor, taxes, and infrastructure, in order to be able to compete for FDI dollars.”

- Shishir Sinha, Senior Analyst for Asia Pacific