Epstein Secrets

by governments and civil society alike. The public interest litigation we have supported has been successful (i.e., yielding a pro-poor outcome) in Colombia, Peru and South Africa, and is ongoing in India. As one example of this work, in Colombia the Constitutional Court has ruled that the 5 EFTA007596

iverables are specific outcomes. Examples of results achieved to date include: securing access to significant devolved government funds in Kenya and Angola; designing a unique mechanism for urban utility connection to bring services to 80,000 Ivoirians; working with the Brazilian government to firmly e

n curve (Jan 21) and we closed Jan 19 receivers. We think there is room for some short term bull flattening in Mexico, and we keep paying ly IBR in Colombia and receive 2y Camara in Chile. We stay neutral on most LatAm FX as valuations are not attractive. We like to short MXN at current levels. Position

tility tends to be artificially suppressed by controls. When looking at 16 countries with severe capital controls based on IMF indicators (Algeria, Angola, China, Malaysia, Tunisia, Cote d'Ivoire. India. Morocco, Pakistan, Philippines, Sri Lanka, Swaziland. Tanzania, Togo, Ukraine, and Uzbekistan), we

er of Irish immigrants, was born and raised in Cleveland, Ohio. She graduated from Georgetown University in 1983 and earned a master's degree from Columbia University's Graduate School of Journalism in 1984. In 1989-90, Jordan was awarded a Nieman Fellowship by Harvard University. Jordan began her Post career as a

ghout major stages throughout the world, including USA (Carnegie Hall, Lincoln Center), India (Kamani Auditorium), Jerusalem (Jerusalem Festival), Angola, China, Corea, Portugal (Festa do Avante), Brazil (Liszt Festival), UK (Celtic Connections), France, Italy (Etnofestival), Germany, Mexico (Palaci

Belize. Benin, Bolivia, Bosnia and Herzegovina. Botswana. Brazil, Burkina Faso. Burma (Myanmar), Burundi, Cambodia, Central African Republic, Chad, Colombia, Comoros, Congo, Democratic Republic of the, Congo, Republic of the, Cook Islands, Costa Rica, Cote d'Ivoire, Crimea, The, Cuba, Cyprus Turkish Cypr

gin Islands. U.S. , Wake Island, Wallis and Futuna. Western Sahara High Risk Jurisdictions* Afghanistan. Aland Islands, Albania, Algeria, Andorra, Angola. Azerbaijan, Bahamas, The. Bangladesh, Belarus, Belize. Benin, Bolivia, Bosnia and Herzegovina. Botswana. Brazil, Burkina Faso. Burma (Myanmar), Bur

33 Other Risks to the Outlook 37 A Country by Country Outlook on Key Players 40 Angola 40 Brazil 42 Canada 44 Caspian Sea, ex Russie 47 Colombia 49 U.S. Gulf of Mexico 51 Malaysia 54 Mexico 56 North Sea 59 Russia 61 Appendix 63 Page 2 Deutsche Bank Securities Inc. CONFIDENTIAL

om Buy 32 Risks to the Outlook 33 Iran and the Rest of OPEC 33 Other Risks to the Outlook 37 A Country by Country Outlook on Key Players 40 Angola 40 Brazil 42 Canada 44 Caspian Sea, ex Russie 47 Colombia 49 U.S. Gulf of Mexico 51 Malaysia 54 Mexico 56 North Sea 59 Russia 61

lat through 2020. Figure 13: ,_014-20 I 7 Cumulative Growth (Mbid) Figure 14 2014.2020 Cumulative Growth (Mbrkt Mexico MI Non-OPEC Mickile East Colombia ■ North Sea • Alaska r Caspian Sea India Europe Non-OECD Other Non-OECD Asia Angola Other FSU Australia Other Non-OPEC Latin America O

ive Growth (Mbrkt Mexico MI Non-OPEC Mickile East Colombia ■ North Sea • Alaska r Caspian Sea India Europe Non-OECD Other Non-OECD Asia Angola Other FSU Australia Other Non-OPEC Latin America Other Europe OECD China Indonesia Other Asia OECD Malaysia ■ Non-OPEC Africa Russia GoM

nge YIY As%of 2009 Budget World Surplus / Total Deficit ($B) As % of World Gross Unemploy- Deficit 2009 ment Rate YIY (pps) Tunisia Ethiopia Colombia Cyprus Poland Spain Kenya Norway Ghana Bolivia Sweden Brazil Switzerland Latvia Malawi Malaysia Denmark Gabon Finland Turkey Czech Republic Slovenia

donia Ecuador Lithuania Peru South Africa Paraguay Venezuela New Zealand Thailand Namibia Tanzania Senegal Mozambique Romania Uganda Bulgaria Nigeria Angola Cameroon China Kazakhstan Algeria Russia Estonia Oonmob hoo Fb FB4HuvbanbOKHKEES : & vu & @ eooocoonNnNiocooccoeocceeec eo eco eco eo ee eo ce eo

namely Iran the UAE Global oil consumption BofAML OPEC capacjty growth, 2015-2020F 105 Kuwait mn bpd fcast uwail 100 , Algeria 95 Qatar 90 Venezuela Angola 85 3 Ecuador 80 Nigeria 15 UAE 70 Libya 65 Iran Saudi Arabia 60 87 89 91 93 95 97 99 01 03 05 07 09 11 13 15 17 19 -0.3 -0.1 0.1 0.3 05 Source: IEA,

AFRICA m@ BRAZIL MEXICO m RUSSIA = MALAYSIA (EM) = INDONESIA m= THAILAND ~ PHILIPPI m SAUDI = TURKEY = CHILE m= POLAND @ QATAR m UAE m= COLOMBIA m PERU m GREECE m HUNGARY EGYPT m@ CZECH REPUBLIC Source: : BofA Merrill Lynch Global Research, MSCI and DataStream 46 GEMs Paper #26 | 30 June

ghter of Irish immigrants, was born and raised in Cleveland, Ohio. She graduated from Georgetown University in 1983 and earned a master’s degree from Columbia University’s Graduate School of Journalism in 1984. In 1989-90, Jordan was awarded a Nieman Fellowship by Harvard University. Jordan began her Post career as an

roughout major stages throughout the world, including USA (Carnegie Hall, Lincoln Center), India (Kamani Auditorium), Jerusalem (Jerusalem Festival), Angola, China, Corea, Portugal (Festa do Avante), Brazil (Liszt Festival), UK (Celtic Connections), France, Italy (Etnofestival), Germany, Mexico (Palacio d