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UK to give its largest aid package to Ukraine
RUSSIA / FSU POLITICS · In Brief · 23 Apr 2024

On April 23 the Prime Minister of the UK announced a USD 671 million package. Rishi Sunak is currently visiting Poland, which identifies with Ukraine and hosts more Ukrainian refugees than any other country. The UK is donating USD 3.7 billion to Ukraine this financial year. The latest British aid...

The CBCH is like a kingfisher in a speedboat
CHILE · Report · 23 Apr 2024

Two consecutive positive surprises in the IMACEC were swiftly followed by an upward revision of the Central Bank’s 2024 GDP growth forecast. Still, the positive result was largely attributable to a milder-than-usual seasonal decline in economic activity, rather than to genuine growth. While macro...

A burst of Russian brutality
UKRAINE · Report · 23 Apr 2024

Ukraine has since mid-March faced unprecedented air raids targeting energy infrastructure, unlike anything seen since the start of the war. In previous years, such as 2022-2023, Russian strategy focused on disrupting energy supplies, to cause nationwide blackouts. But now the focus has shifted to...

The FPE will hold a meeting with Bernard Appy on Tax Reform, the House may vote on the Perse bill today, and the Camex may discuss a surcharge on imported steel
BRAZIL POLITICS · Report · 23 Apr 2024

Today, the Parliamentary Entrepreneurship Front (FPE) will hold a meeting with the Extraordinary Secretary of Tax Reform, Bernard Appy, for a debate on the proposals for Complementary Laws on Tax Reform. The House may vote on the bill that provides for the gradual end of the Emergency Program for...

Economics: Growing Chinese presence in Mexico’s automotive sector sparks concern in the US, posing risks to Mexico under the USMCA
MEXICO · Report · 23 Apr 2024

China's increasing presence in the Mexican automotive sector has drawn considerable expressions of dissatisfaction among US authorities and politicians, as well as from US labor unions, objections that have been exacerbated this key election year. Both President Joe Biden and candidate Donald Tr...

Business and consumer expectations mixed for the first quarter of 2024
PHILIPPINES · Report · 23 Apr 2024

Abstracting from the results of the BSP surveys of both business and consumer respondents, Q1 2024 is likely to sustain positive economic growth that may not necessarily approximate the official target of 6-7% at least for Q1 2024 due to the dominant downside risks to economic growth including th...

Politics: A sweeping scandal involving the Judiciary and the Executive tarnishes the entire system
MEXICO · Report · 22 Apr 2024

The Supreme Court announced on April 12 that it had ordered the Council of the Federal Judiciary to launch an investigation into an anonymous complaint of widespread acts of corruption by officials of the Judicial Branch during Arturo Zaldívar's time as Chief Justice of the Court (January 2019 to...

The Lula government's "outdated software" and other weekly topics
BRAZIL POLITICS · Report · 22 Apr 2024

The government announced a measure focused on credit and is expected to submit the Tax Reform regulations to Congress. The House may vote on a new Perse. Congress analyzes presidential vetoes. This week's Talking Points: * The Lula government's "outdated software".  * A feasibl...

When a Risk Becomes (Almost) Certainty
BRAZIL ECONOMICS · Report · 22 Apr 2024

In the statement following its last meeting, the COPOM changed its forward guidance, conditional on confirmation of its baseline scenario, to only one more cut of 50 basis points at the meeting in May, without any indications regarding subsequent meetings. Back then, in the minutes of that meetin...

Lula launches the Believe Credit Program, the government should finally submit the bills that regulate Tax Reform, and the House may vote on the bill on the Perse program
BRAZIL POLITICS · Report · 22 Apr 2024

President Lula launches the new government program for the credit area today, the Believe Program (Programa Acredite). There will be lines of credit for individual microentrepreneurs and microenterprises. The government should finally submit the bills that regulate Tax Reform to the National Cong...

Why inflating debt away isn’t an option for China
CHINA FINANCIAL · Report · 22 Apr 2024

Special points to highlight in this report: * First quarter results were better than expected in terms of the volume of economic activity delivered, but there has been no improvement in the composition of growth. In spite of continued promises by Beijing to deliver demand-side growth, Chinese ...

Expected victory amidst an energy crisis
ECUADOR · In Brief · 22 Apr 2024

Ecudorians voted yesterday on the public referendum and consult for 11 questions, 9 of which are related to security and corruption issues, one to international arbitration for public contracts and one for labor hiring by the hour – these two questions are currently prohibited under the constitut...

Two signs of sanity
VENEZUELA · In Brief · 22 Apr 2024

On April 20, after four weeks of agonizing negotiations, the opposition agreed on a single candidate supported by all the Unitary Platform (PUD) parties one day before the deadline for modifying endorsements to be visible on the ballot. The candidate is Edmundo González Urrutia, registered by PUD...

Inflation expected to accelerate
ISRAEL · Report · 22 Apr 2024

Inflation in March (0.6% m/m 2.7% y/y, following 2.5% last month) was slightly above expectations of 0.5% on average. Core inflation inched up to 2.3% y/y from 2.2% last month but this is due to higher taxation on cigarettes, which contributed 0.17% to the CPI. Core excluding government measure r...

Armenia hands over villages to Azerbaijan
RUSSIA / FSU POLITICS · In Brief · 22 Apr 2024

On April 19 Armenia ceded the land to its neighbor as part of a border demarcation agreement. The four villages were part of Azerbaijan in the Soviet era. This has caused protests in Armenia, where some people believe the government is being feeble and cowardly. Some say Prime Minister Pashinyan ...