DATA LICENSE

This dataset is licensed to the recipient for commercial use, subject to the terms of the sources it is derived from (each licensed for such use) and the delivery agreement.

Sources and their license basis:
  - S013 World Bank Open Data: CC BY 4.0 (open data, incl. commercial use) (conditions: Attribution to World Bank; indicator values only (public statistics, no natural persons))
  - S014 ECB euro FX reference rates (via Frankfurter API): ECB reuse policy: reference rates may be reused free of charge with acknowledgement (see docs/licenses/S014/) (conditions: Attribute the ECB; reference rates are indicative daily snapshots (~16:00 CET), NOT executable fixings — state this to buyers; no natural persons)
  - S032 World Bank Global Economic Monitor (GEM): VERIFIED 2026-08-08 (evidence docs/licenses/S032/): CC BY 4.0 — World Bank data-licensing page permits copy/modify/distribute "for any purpose, **including commercial use**" with attribution; same basis as cleared S005/S013. (conditions: Attribute "The World Bank, Global Economic Monitor (GEM), CC BY 4.0" + indicate transformation; series are as-published levels (NOT a vintage/revision archive — Certvas point-in-time vintages accrue from ingest forward); quarterly re-verify third-party carve-out; no natural persons.)

Attribution is provided per each source's conditions. This product contains NO natural-person data (directors, shareholders, contacts). Every record carries its source class and observation time for full provenance.