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Our Team
Rachel Ziemba
Rachel Ziemba is director of emerging markets at Roubini Global Economics. She has a particular interest in the macroeconomics of oil-exporting nations, including the management of oil wealth and energy-sector supply risks. She also does extensive work on global macroeconomic issues, particularly foreign-exchange reserve accumulation, sovereign-wealth management and economic imbalances. Prior to joining RGE, Rachel worked for the Canadian International Development Agency in Cairo, Egypt, and the International Development Research Centre in Ottawa, Canada. Rachel has served as an expert commentator for Bloomberg, CNBC, the Financial Times, the Wall Street Journal and other media outlets, and her research has been cited by the Economist and in papers from the IMF, World Bank, European Central Bank and U.S. Federal Reserve. She holds a bachelor’s degree from the University of Chicago with honors, and a Master of Philosophy degree in international relations with a specialization in international political economy from St. Antony’s College, Oxford University. She is the co-author of “Scenarios for Risk Management and Global Investment Strategies” (with William T. Ziemba), published by Wiley in January 2008.
If you or your organization would like to book Rachel Ziemba for a speaking engagement or event, contact the RGE sales team.
Recent Articles by Rachel Ziemba
Iran’s Golden Loophole
May 15, 2013
Rachel Ziemba on the Iranian presidential lineup
May 14, 2013
The Other Fat Tail: Monetary Policy and Bubbles
May 2, 2013
Rachel Ziemba on the restart of Turkish gold exports to Iran
April 30, 2013
Rachel Ziemba on rising pressures on Slovenia
April 29, 2013
Rachel Ziemba on Why Kuwait's election matters
April 29, 2013
Rachel Ziemba on Angola's new sovereign fund
April 29, 2013
Is Egypt Nearing the Day of Debt Restructuring?
April 25, 2013
Does Global Muddle Imply MENA Bubble?
April 23, 2013
Slovenia Buys Time
April 19, 2013
Rachel Ziemba on why Iraq's provincial elections matter
April 15, 2013
Is Malta the Next Cyprus?
April 3, 2013
Emerging Markets Outlook: Catchup Time?
April 2, 2013
MENA Outlook: A Tale of Two Regions
April 2, 2013
Saudi Arabia Outlook: Shaking Off the Oil Drag for Now
April 1, 2013
Emerging Europe Outlook: Another Rebuilding Year
March 29, 2013
GCC Outlook: Another Strong Year, but Strains Show
March 25, 2013
Russia Outlook: Settling Into Slower Growth
March 22, 2013
Rachel Ziemba on Cypriot Russian hopes
March 20, 2013
Decision Point: A Well-Supplied Global Oil Market Will Make 2013 the Year to Deal With Iran
March 14, 2013
Rachel Ziemba on EU Tightens Screws on Iran
March 11, 2013
Rachel Ziemba on IAEA's damning report on Iran Nukes
March 11, 2013
Rachel Ziemba on The Gulf attraction for US assets
March 1, 2013
Rachel Ziemba on Dubai's Islamic Finance Dreams
February 28, 2013
Rachel Ziemba on Iranian nuclear talks
February 27, 2013
A Crucial Year for Greece
February 8, 2013
Rachel Ziemba on clues emerging about the Saudi succession
February 7, 2013
Rachel Ziemba on Iranian nuclear talk hopes
February 7, 2013
Rachel Ziemba on Russia's food inflation conundrum
February 7, 2013
Another Take on European Bank Solvency
January 18, 2013
Rachel Ziemba on shale gas/tight oil and the U.S. fiscal cliff
January 10, 2013
Central Bank of Russia: Preparing to Ease
January 2, 2013
Rachel Ziemba on Saudi Budget Surprises
December 31, 2012
Bank of Israel: Running Out of Room
December 28, 2012
Emerging Europe Outlook: A Modest Reprieve
December 26, 2012
Middle East and North Africa Outlook: Rocky Transitions Extend Economic Divergence
December 21, 2012
United Arab Emirates Outlook: Back to Basics
December 18, 2012
Saudi Arabia Outlook: Another Strong Year, but Transitions Await
December 18, 2012
Israel Outlook: Politics Heats Up
December 18, 2012
Gulf Cooperation Council Outlook: Governments Pump
December 14, 2012
Outlook Overview: Good and Bad News in a Still Fragile Global Economy
December 12, 2012
Rachel Ziemba on Egypt’s Start-Stop Transition Extending to the IMF loan
December 11, 2012
Russia Outlook: Leaning in the Wind
December 7, 2012
Egypt Outlook: Rocky Transition Continues
December 4, 2012
Rachel Ziemba on the opacity of the Saudi succession
November 29, 2012
Rachel Ziemba on Mark Carney's move to the Bank of England
November 26, 2012
UAH: Getting Closer to the Day of Reckoning
November 19, 2012
Eurozone Back in Recession
November 16, 2012
Rachel Ziemba on weak Eastern European growth trajectory
November 15, 2012
How Is Global Stimulus Affecting MENA?
November 13, 2012
Central Bank of Russia: Holding On
November 6, 2012
Turkey: Too Soon to Say ‘Mission Accomplished'?
November 2, 2012
Central Bank of Egypt: Watchers Price in Rate Cuts
October 31, 2012
Bank of Israel: Acting to Support Growth
October 29, 2012
Central Bank of Russia: Alone in a World of Easing
October 25, 2012
Bank of Canada: Stuck in Neutral
October 25, 2012
Rachel Ziemba on the tests to Canada's foreign investment regime
October 21, 2012
Rachel Ziemba on the Iran/U.S. Diplomatic Trial Balloon Fallout
October 21, 2012
Rachel Ziemba on Abu Dhabi's Surprising Growth Performance
October 18, 2012
Supply and Demand Scenarios: How to Get to $50 Oil
October 18, 2012
2012-16 Scenarios HeatMap: Outcomes Still Defined by Policy
October 18, 2012
Rachel Ziemba on the importance of Egypt's IMF negotiations
October 17, 2012
Rachel Ziemba on Israel's early elections
October 11, 2012
Rachel Ziemba on IMF's Global growth forecasts and a painfully slow external adjustment for some EEMEA countries
October 9, 2012
Rachel Ziemba on Rising tensions in Iran
October 4, 2012
Central Bank of Egypt: Still Defensive
September 18, 2012
Rachel Ziemba on Vladimir Putin's micromanaging
September 18, 2012
Rachel Ziemba on Canada housing sales take a dip
September 17, 2012
Outlook Overview: Buy Some Time and Use It Well!
September 17, 2012
Turkey Outlook: The Slowdown Isn’t Over
September 17, 2012
Sub-Saharan Africa Outlook: Growth on Track Despite Global Risks
September 17, 2012
Gulf Cooperation Council Outlook: Government Pump-Priming Helps
September 17, 2012
Middle East and North Africa Outlook: Oil Exporters Coming Down to Earth
September 17, 2012
South Africa Outlook: Political Strain Mounts
September 14, 2012
Emerging Europe Outlook: ECB Grants a Temporary Reprieve
September 14, 2012
Germany’s Constitutional Court Backs ESM
September 14, 2012
Russia Outlook: Grain Drain
September 14, 2012
Canada Outlook: Consumer Strains
September 14, 2012
Saudi Arabia Outlook: Floating on Oil (for Now)
September 13, 2012
Israel Outlook: Security Risks Strain Resilient Domestic Demand
September 12, 2012
United Arab Emirates Outlook: Sheltering From Headwinds
September 7, 2012
Egypt Outlook: Show Me the Economic Program!
September 7, 2012
MENA’s Disinflation Enigma
August 27, 2012
Will the ECB Announce a Yield or Spread Target?
August 24, 2012
Emerging Europe: IMF Visits Bring Back Reality
August 14, 2012
The European Drama Ahead in September
August 10, 2012
Overview: Promises, Promises…
August 1, 2012
ECB August 2 Meeting Preview
July 27, 2012
What Would a Perfect Storm Mean for MENA?
July 24, 2012
Reassessing Strait of Hormuz Risks
July 19, 2012
Central Bank of Turkey: Moving to the Center of the Band
July 18, 2012
Surging Grain Prices Bring Inflation Fears
July 16, 2012
Will the German Constitutional Court Block the ESM?
July 13, 2012
Central Bank of Russia: Going Against the Grain
July 12, 2012
Russia: Drought Adds to Inflation Pressures
July 6, 2012
France Puts Tough Choices on Hold
July 6, 2012
Riding the Crude Oil Rollercoaster
July 5, 2012
Bank of Israel: Quick off the Mark
June 29, 2012
FOM-C You Soon
June 25, 2012
Global Overview: If It Can’t Continue, It Won’t
June 13, 2012
Emerging Europe Outlook: EZ Spillovers Mount
June 13, 2012
Russia Outlook: Lower Your Expectations
June 12, 2012
Canada Outlook: Q1 Brings Ill Tidings
June 8, 2012
Israel Outlook: External Threats Mount
June 7, 2012
United Arab Emirates Outlook: A Blow to Confidence
June 6, 2012
Saudi Arabia Outlook: A Nasty Oil Slick
June 6, 2012
Ailing U.S. Recovery: Here We Go Again
June 4, 2012
Egypt Outlook: Transition Hits Critical Phase
May 28, 2012
ECB Rate Path Update
May 25, 2012
U.S.: Watch Dim Retail Sales and FOMC Minutes
May 14, 2012
Iran and Oil Scenarios Update: Cooling for Now
May 11, 2012
South Africa Policy Debate to Amplify Economic Risks
April 30, 2012
2012-16 Scenarios HeatMap: Deleveraging Sets the Pace?
April 27, 2012
Bank of Canada: Hawkish Bark, No Bite Yet
April 20, 2012
Bank of Israel: Rethinking Another Cut
April 18, 2012
Financial Vulnerabilities Outside the Eurozone
April 13, 2012
Spain’s Budget—More Pain, but No Gain
April 5, 2012
U.S.: Weak Real Income Gains a Headwind?
April 2, 2012
Global Overview: Better, but No Cigar
March 23, 2012
UK Budget—Too Optimistic on Growth and Trade
March 23, 2012
Gulf Cooperation Council Outlook: Still Booming, Multispeed
March 21, 2012
United Arab Emirates Outlook: Liquidity Helps
March 20, 2012
Israel Outlook: Political Hot Seat
March 20, 2012
Russia Outlook: Growth Boost From Putin 3.0
March 20, 2012
Sub-Saharan Africa Outlook: Another Strong Year in the Cards
March 20, 2012
Canada Outlook: Deleveraging Ahead
March 20, 2012
Central Bank of Russia: Monetary Easing Window Closes
March 15, 2012
Egypt Outlook: It’s All About the Politics
March 14, 2012
Saudi Arabia Outlook: Pumping While the Sun Still Shines
March 13, 2012
EZ Fundamentals Stuck in the Mire Amid Worries Over Bigger Firewall
February 24, 2012
Iran Scenario Analysis: Crude Posturing
February 22, 2012
Should We Worry About Headline CPI Upside?
February 20, 2012
Trip Report: Russian Spring or Structural Permafrost?
February 14, 2012
ECB Rate Cuts Delayed; Greek Deadline Worries; Turkish Credit Drought; Russian Disinflation Drivers; EZ Calendar
February 10, 2012
Bank of Canada: Expected to Stay on Hold Through Mid-2013
February 9, 2012
Central Bank of Russia: Liquidity Squeeze Focus on Policy in 2012
February 9, 2012
Crude Oil Scenarios: Iran and the Risks Ahead
February 7, 2012
A Year of Diverging Credit
February 7, 2012
U.S. Employment Report Highlights and Medium-Term Unemployment Rate Trajectory; Canada: Bad Tidings for Early 2012
February 6, 2012
Egypt’s Reprieve Short-Lived
February 2, 2012
Executive Summary: No Such Thing as Decoupling
January 26, 2012
The Here and Now: Risk-On vs. Return-Off…Capital
January 26, 2012
Fiscal Policy: Little Space for Stimulus But Manageable Refinancing
January 26, 2012
Credit Growth: From a Gallop to a Trot
January 26, 2012
Russia: Q1 2012
January 25, 2012
January FOMC Changes; U.S. Q4 GDP to Show Slower Final Sales; Canadian Inflation Heading Back to Target
January 23, 2012
Conference Call Replay: Crude Oil—Conflicting Macroeconomic and Geopolitical Forces
January 18, 2012
U.S. Retail Sales Soften; Canada Housing Market Slows
January 16, 2012
One Year After the Arab Spring: Assessing the Vulnerable
January 13, 2012
One Year After the Arab Spring: What Lies Ahead?
January 13, 2012
U.S. Retail Sales, Fed Housing Proposals; Canada Labor Market
January 9, 2012
Geopolitical Risks Expose Oil Market Stress Points
January 6, 2012
Upside Risks to 2012
January 5, 2012
RGE Analysts' EconoMonitor
Nigeria Lifting Fuel Subsidies: Needed but Implementation to be Challenging
January 2, 2012
Cabinet Crisis Threatens Iraq's Political and Economic Stability
December 22, 2011
Volatility of South Korea’s Assets to Remain High Due to Political Noise in the North
December 18, 2011
United Arab Emirates Outlook: Cracks in the Safe Haven
December 12, 2011
Emerging Europe Outlook: Hit by the EZ
December 12, 2011
Gulf Cooperation Council Outlook: Weaker Oil Brings Slowdown
December 12, 2011
Outlook Overview: No Such Thing as a Free Lunch
December 11, 2011
Saudi Arabia Outlook: Oil Production Cuts Looming
December 9, 2011
Sub-Saharan Africa Outlook: Shifting Into a Lower Gear
December 9, 2011
Russia Outlook: Electoral Cycle Boosts Growth for Now
December 8, 2011
Israel Outlook Update: A Proactive BoI Amid a Slowdown
December 7, 2011
Turkey Outlook: Slowdown Still to Come
December 1, 2011
The Drive for New Oil: Unconventional Becomes Conventional
November 22, 2011
Arab Autumn?
November 22, 2011
BRICs in Africa: After More Than Just Resources
November 22, 2011
Central Bank of Russia: November Update
November 17, 2011
Central Bank of Turkey: November Update
November 17, 2011
Emerging Market Crude Oil Demand Unlikely to Wane
November 16, 2011
Peak or Plateau Oil and Rising Extraction Costs: The Long-Term View
November 14, 2011
Arab Spring Turns to Autumn as Elections Begin
November 3, 2011
Saudi Succession: Preparing for a Tougher Future
October 28, 2011
The Here and Now: Catching Up Is Hard to Do
October 24, 2011
Emerging Europe and CIS: Greater Exposure, Less Policy Space
October 24, 2011
MENA: Arab Spring Amplifies Vulnerabilities
October 24, 2011
Sub-Saharan Africa: Sheltering From the Storm
October 24, 2011
UK’s MPC Meeting; Norway’s Monetary Policy; Portugal’s Budget Plan; Hungary’s Credit Rating; Russia’s Retail Sales; EZ Calendar
October 21, 2011
PMIs Painting a Gloomier Picture by the Month
October 7, 2011
Nine Months On: Unresolved Conflicts of the Arab Spring
September 29, 2011
Russian Politics: Even More of the Same?
September 29, 2011
The Age of Crisis: Down and Out Depression in D.C.—RGE on the IMF/WB Annual Meetings
September 26, 2011
Outlook Overview: Gravity Exists
September 23, 2011
United Arab Emirates Outlook Update: Recovery Stalling
September 20, 2011
Sub-Saharan Africa Outlook Update: Resiliency Tested
September 19, 2011
Emerging Europe and CIS Outlook Update: Weaker Growth Across the Region
September 16, 2011
Israel Outlook Update: Global Headwinds Bring Growth Back to Earth
September 16, 2011
Saudi Arabia Outlook Update: Hand on the Taps
September 16, 2011
U.S.: August Employment, Q3 Consumption and a More Dovish Fed; Canada: Growth Negative in Q2, Uncertain Going Forward
September 5, 2011
Europe’s Woes Threaten MENA's Recovery
August 24, 2011
RGE Analysts' EconoMonitor
RGE's Rachel Ziemba on Bloomberg: 'Libya's Frozen Assets to Take Time to Access'
August 23, 2011
Libya: Checkmate for Qadhafi?
August 22, 2011
South African Reserve Bank: August Update
August 19, 2011
Impact of U.S. Growth and Credit Downgrades on MENA
August 10, 2011
MENA Looks for New Markets: Trade Ties Shifting Slowly
August 5, 2011
Foreign Sovereigns Unlikely to Flee Treasurys
July 29, 2011
MENA: Government-Led Credit
July 28, 2011
Sub-Saharan Africa: Crowded Out
July 28, 2011
Emerging Markets: Watch the Credit Cycle
July 26, 2011
Uprisings Not On the Backburner
July 14, 2011
Sudan: Navigating the Choppy Waters of Secession
July 13, 2011
Egypt Shuns IMF: What Are the Economic Implications?
June 30, 2011
MENA Real Estate: Fallout From the Arab Spring
June 29, 2011
Iran Plays Regional Chess, Amid Power Struggles at Home
June 28, 2011
Outlook Overview: A Blip or a Dip for Global Growth?
June 23, 2011
MENA: Bump From High Oil Prices Overshadowed
April 21, 2011
Sub-Saharan Africa: Food Pressures
April 21, 2011
Emerging Europe & CIS: Slippery When Wet
April 21, 2011
Emerging Markets EconoMonitor
RGEs Wednesday Note - Fallout From the MENA Days of Rage
March 2, 2011
China: Stimulus Bill Comes Due
January 18, 2011
Middle East and North Africa: Relying on Fiscal Policy
January 18, 2011
Africa: Accommodative Policy Brings Growth
January 18, 2011
Egypt: Far From Policy Normalization on the Nile
January 18, 2011
South Africa: Still Searching for Stimulus
January 18, 2011
Emerging Europe and CIS: Overheating and Underheating
January 18, 2011
RGE Analysts' EconoMonitor
Can World Cup Frenzy Keep Qatar Growing After Gas Momentum Fades?
December 2, 2010
Emerging Markets EconoMonitor
Can World Cup Frenzy Keep Qatar Growing After Gas Momentum Fades?
December 2, 2010
Russia: Lackluster Recovery as Stimulus Breeds Inflation
October 21, 2010
China: Foreign Inflows Contribute to Frothy Asset Markets
October 21, 2010
Middle East and North Africa: Dominated by Economies on Cusp Between Frontier and Emerging Markets
October 21, 2010
Sub-Saharan Africa: Still Struggling to Attract Capital
October 21, 2010
RGE Analysts' EconoMonitor
Fox Business Interview with RGE's Rachel Ziemba Discussing China's Bubbles
March 15, 2010
Russia: Inflation on the Boil
January 18, 2010
RGE Analysts' EconoMonitor
RGE's Wednesday Note - Energy Insecurity in 2010 and Beyond?
December 23, 2009
RGE Analysts' EconoMonitor
CNBC Squawk Box Interviews with RGE's Rachel Ziemba, Jim Rogers and others Discussing China at 60
October 7, 2009
RGE Analysts' EconoMonitor
What do Istithmars Troubles Signal for other Sovereign Investors?
September 14, 2009
RGE Analysts' EconoMonitor
Whats on the Table at the U.S. China Strategic and Economic Dialogue (S&ED)?
July 24, 2009
RGE Analysts' EconoMonitor
May TIC Data: Still Buying U.S. Assets, but Just the Liquid Ones
July 17, 2009
RGE Analysts' EconoMonitor
How Worried Should We Be About Dubai? Update: Is the Bailout Underway?
February 22, 2009
RGE Analysts' EconoMonitor
How Are GCC (and Other) Sovereign Funds Faring? An Update
February 21, 2009
RGE Analysts' EconoMonitor
Canadian 2009 Budget: How Much Will New Spending Stimulate the Canadian Economy?
January 26, 2009
RGE Analysts' EconoMonitor
Qatar and Abu Dhabi to Barclays Rescue: Latest Developments in the World of Sovereign Wealth
November 2, 2008
Emerging Markets EconoMonitor
Chinas Reserve Growth: Still Large, and Rather Volatile
October 21, 2008
RGE Analysts' EconoMonitor
SWF Watch: Government of Singapore Investment Corporation (GIC)
September 22, 2008
RGE Analysts' EconoMonitor
Sovereign funds investing in energy? Maybe not through indices?
September 12, 2008
RGE Analysts' EconoMonitor
German Government and Business Responses to Sovereign Wealth
September 2, 2008
RGE Analysts' EconoMonitor
US Oil Production and Hurricanes: Insecurity of Demand Trumps Insecurity of Supply?
August 30, 2008
RGE Analysts' EconoMonitor
Every Barrel Now Counts: What Prospects for more oil Supplies?
July 2, 2008
United States EconoMonitor
Sovereign Wealth Fund Watch: US Taxation and Banking Oversight
June 17, 2008
RGE Analysts' EconoMonitor
New CFIUS Regulations: How Significant For Sovereign Investors?
April 22, 2008
RGE Analysts' EconoMonitor
Sovereign Wealth Funds Investing in Africa: A Part of Growing South-South Investment
April 3, 2008
RGE Analysts' EconoMonitor
Editor's Pick: Rising Tigers of the Chinese Banking Sector
March 31, 2008
RGE Analysts' EconoMonitor
Sovereign Wealth Fund Watch: US Taxation and Banking Oversight
March 6, 2008
RGE Analysts' EconoMonitor
Tracking State Holding Companies and Sovereign Investors of the UAE
February 19, 2008
RGE Analysts' EconoMonitor
So, What Are Sovereign Wealth Funds Targeting?: Assessing Benchmarks
February 3, 2008
RGE Analysts' EconoMonitor
How Is China Funding the Chinese Investment Corporation (CIC)?
December 5, 2007
RGE Analysts' EconoMonitor
Responses to Sovereign Wealth Funds: Are 'Draconian' Measures on the Way?
October 17, 2007
RGE Analysts' EconoMonitor
Editor Pick: Where will Japanese (and Chinese) Financial Assets Be Deployed?
October 11, 2007
RGE Analysts' EconoMonitor
Editor Pick: Hong Kong's Financial Center and Ties with the Mainland
October 9, 2007
RGE Analysts' EconoMonitor
Editor Pick: How Commercial are National Oil Companies?
September 28, 2007
RGE Analysts' EconoMonitor
Editor Pick: More Transparency for Sovereign Wealth Funds?
August 8, 2007
RGE Analysts' EconoMonitor
Editor Pick: IMF on Japan's Capital Flows and Monetary Policy
August 7, 2007
RGE Analysts' EconoMonitor
Editor Pick: China overheating? How vulnerable to a credit crunch?
August 3, 2007
RGE Analysts' EconoMonitor
Editor Pick: More Projections on China's Investment Company
July 31, 2007
RGE Analysts' EconoMonitor
Editor Pick: If the Yuan Revalues, Will Other Asian Currencies Follow?
July 16, 2007
RGE Analysts' EconoMonitor
Editor Pick: Ukraine, Turkmenistan and CIS Pipeline Politics
July 16, 2007
RGE Analysts' EconoMonitor
Editor Pick: Does China or the US Present the Biggest Risk to Asian Growth?
June 27, 2007
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