GlobalSource Partners | Country Insights

On April 24, the National Bank of Kazakhstan decided to keep the base rate unchanged at 18% despite inflation decelerating in March. It fell y-o-y to 11.0% and m-o-m to 0.6% (from 11.7% and 1.7% in February). Commenting on the decision, the NBK Chairman praised the consistency of monetary policy ...

Governor Varga did not appear to be pushing for a stronger forint at today's press conference

HUNGARY · In Brief · 28 Apr 2026

The Monetary Council held the base rate unchanged at 6.25% today. The Council discussed only the 'hold' proposal, and the vote was unanimous. This was not at all surprising; the more interesting part of the day was Governor Varga's press conference.There will likely be different interpretations o...

Durigan said lower interest rates should be offered to combat household debt, he also highlighted tighter restrictions on betting activities, and the Nexus/BTG poll shows that the presidential race remains polarized

BRAZIL POLITICS · Report · 28 Apr 2026

Following a meeting with CEOs of financial institutions yesterday, April 27, Finance Minister Dario Durigan said there is a consensus between the ministry and banks to offer lower interest rates under the new program to combat household debt. He projected discounts of up to 90% across categories ...

Change in their own terms

VENEZUELA · Report · 28 Apr 2026

After nearly four months in office, the Rodríguez group has brought gain: stability in the immediate political environment, legal reforms to reshape the business climate for the oil and mining sectors, and progress toward a consensus on labor reform. These gains coexist, however, with persistent ...

Stable disequilibrium

ARGENTINA · Report · 28 Apr 2026

I see Argentina's macroeconomy as trapped in a state of internal and external disequilibrium. On one hand, the output gap is negative, meaning that GDP is running below potential, On the other, the central bank is having trouble accumulating reserves at a high enough speed to convince internatio...

Economics: As inflation persists, expanded price controls loom as a threat

MEXICO · Report · 27 Apr 2026

The overall inflation rate for the first half of April (4.53%) was virtually unchanged from March (4.55%), while core inflation declined by 0.17 percentage points, falling from 4.44% to 4.27%. Although both indicators show a modest reduction, it is worth highlighting that core inflation has been...

Zema gains visibility in clash with Mendes and other weekly topics

BRAZIL POLITICS · Report · 27 Apr 2026

President Lula is expected to deliver a nationwide radio and TV address for Labor Day. There is a possibility of announcing credit-related measures. The Senate will review the nomination of Jorge Messias to the Supreme Federal Court on Wednesday. The Lower House will establish a Special Committee...

Synthesis of the Brazilian Economy

BRAZIL ECONOMICS · Report · 27 Apr 2026

With survival and the October election on the radar, political actors anxiously await the outcome of the plea bargain of Daniel Vorcaro & Cia. If accepted by the Federal Police, Federal Prosecutor’s Office and Supreme Federal Court, it may trigger an earthquake with potential to affect the lives ...

No change in the MNB base rate is expected from tomorrow's monthly rate-setting meeting

HUNGARY · In Brief · 27 Apr 2026

Portfolio.hu, the economic news site that regularly surveys analyst views, is saying that analysts typically do not expect a change in the MNB's 6.25% base rate at the monetary Council's monthly meeting tomorrow. They also added that the majority of the analysts they asked think that a further fo...

The Senate will hold the confirmation hearing for STF nominee Messias on Wednesday, a special committee will be established tomorrow on the 6x1 work schedule, and Friday is a federal holiday

BRAZIL POLITICS · Report · 27 Apr 2026

The Senate’s Constitution and Justice Committee (CCJ) will hold a confirmation hearing on Wednesday, April 29, for Attorney General Jorge Messias, who has been nominated to the Supreme Federal Court (STF). To be approved, Messias must secure a majority vote in the 27-member CCJ. A special committ...

Politics: Changes in Morena and the INE imply costs for the future of Mexican democracy

MEXICO · Report · 27 Apr 2026

Recent weeks have brought significant political changes in Mexico that carry far-reaching implications for both democratic governance and electoral competition. Within Morena, President Claudia Sheinbaum has orchestrated a leadership reshuffle that effectively tightens her grip on the ruling part...

Macro update: tail risks down, frictions up

ARGENTINA · Report · 27 Apr 2026

Argentina’s macro program continues to deliver short-term financial stability, but the underlying tensions between disinflation, growth, and external sustainability remain unresolved. Recent developments confirm that the policy mix is effective at reducing tail risks—namely, a disorderly devaluat...

Former Israeli PMs Bennett and Lapid join forces ahead of elections to form the largest party

ISRAEL · In Brief · 27 Apr 2026

In an interesting political development, Yair Lapid, head of the Yesh Atid party and former prime minister, and Naftali Bennett, a former prime minister, have agreed to unite politically ahead of the next elections. Bennett is expected to lead the joint list, with Lapid serving as number two. The...

Tajikistan breaks record with massive CA surplus

CAUCASUS / CENTRAL ASIA · In Brief · 27 Apr 2026

As I indicated earlier, Tajikistan and Kyrgyzstan, arguably the two most interesting countries from an analytical perspective as far as the external sector is concerned, lagged with reporting full 2025 BoP data, but the former has now announced it. Very meaningfully, Tajikistan has posted its 6th...

The year of living dangerously

TURKEY · Report · 26 Apr 2026

There is no sign that the Iran War will end anytime soon, with most experts now warning that the Straits of Hormuz may remain shut for months to come. Turkey has managed the spillover from the war adroitly – so far, judging by the success of the strong TL policy and her sticking to a line of stri...