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Events
Databanks
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Argentina databank Apr 30 -
Brazil Economics databank Apr 14
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Central America databank May 1
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Chile databank Apr 7
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China databank Mar 21
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Colombia databank Apr 28
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Dominican Republic databank Apr 28
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Ecuador databank Apr 22
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Gulf Countries databank May 2
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Hungary databank Apr 22
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India databank Apr 28
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Mexico databank Mar 25
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Panama databank Jan 28
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Peru databank Apr 28
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Philippines databank May 8
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Poland databank Apr 29
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Russia Economics databank Apr 11
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South Africa databank May 6
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Turkey databank Apr 24
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Ukraine databank Mar 6
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Venezuela databank May 5
NEWS FLASH
UPCOMING WEBINAR - PANAMA IN FOCUS: US RELATIONS, CANAL STRATEGY AND FI...
COUNTRY INSIGHTS
Haddad canceled his trip to Berlin because of the ministerial meeting on Monday, Tarcísio met with Haddad to discuss São Paulo’s federal debt, and the bill on electronic gambling was approved in the Senate
BRAZIL POLITICS · Report · 14 Mar 2024
The Minister of Finance, Fernando Haddad, was going to participate in the 10th Edition of the Berlin Energy Transition Dialogue next week. However, he decided to cancel his trip because there will be a ministerial team meeting on Monday, March 18. Yesterday, the governor of São Paulo, Tarcísio de...
The federal budget remains in decent shape in 2M24
RUSSIA ECONOMICS · In Brief · 14 Mar 2024
The Ministry of Finance reported that in 2M24, the federal budget accumulated over R5 trln in revenues over R1.6 trln coming as oil-and-gas taxes and about R3.4 trln as the non-O&G ones). These amounts accounted for 14.3% of the annual plan in the case of total revenues and 14.1% and 14.5% in the...
Russia: a brief market watch
RUSSIA ECONOMICS · In Brief · 14 Mar 2024
The ruble recently fluctuated within a relatively wide range (R/$ 90-93), and these fluctuations were driven mainly by local factors rather than fundamental trends. According to the CBR statistics, sales of hard currency by top exporters decreased in February from $12.9 bln to $10.4 bln. The latt...
Kazakhstan macro: The art of financing budgetary expenditures
KAZAKHSTAN · Report · 14 Mar 2024
The Bureau of National Statistics of Kazakhstan started publishing economic data for February, and it looks as though economic growth remains relatively stable, albeit uneven across sectors and with some signs of deceleration. For instance, the Bureau reported that retail sales grew by 4.0% y-o-y...
Trade data points to recovery, core trade deficit continues to shrink
ISRAEL · In Brief · 13 Mar 2024
In February, there was a rapid increase in both industrial exports and imports (seasonally adjusted). Industrial exports increased by 9.5 percent (compared with January), mainly pharmaceuticals, electronic components, and defense exports. Exports rose 7.1% in Dec-February, following a similar dec...
Biden approves USD 300 million in military aid for Ukraine
RUSSIA / FSU POLITICS · In Brief · 13 Mar 2024
On March 12 the US President said this is needed to keep Ukraine in the fight. The money given is what the US military has saved on recent purchases. Therefore, the President has the authority to spend it. Usually Congress and not the president has the power of the purse. Most of the aid will be ...
The House approved a bill that increases the income tax exemption limit, the STJ may adjudicate the case on the calculation of the ICMS, and the Comsefaz will meet to discuss the ICMS rate
BRAZIL POLITICS · Report · 13 Mar 2024
Yesterday, the House approved a bill that makes it possible to exempt individuals from the Income Tax (IRPF) on amounts up to two minimum wages (R$2,842.00). The measure is included in Bill 81/24, which will now be sent to the Senate. Also today, the 1st Section of the Superior Court of Justice (...
China's growth and the Two Sessions
CHINA ADVISORY · Report · 12 Mar 2024
Investors are hoping that China finds a magic wand to reach the 5 percent plus growth target for 2024. Following the Two Sessions, one of the tools the government plans to use is fiscal, rather than monetary, stimulus. However, there is limited room for fiscal growth given the significant debt bu...
Current account surplus improves + institutions sell some FX in January
ISRAEL · In Brief · 12 Mar 2024
Yesterday's shekel depreciation (1.1% against the basket) occurred despite the increases in overseas markets and positive news regarding an increase in the current account surplus in the fourth quarter, to $10.5 billion, compared with $4.7 billion in the third quarter. The goods and services acco...
Ricardo Martinelli (via his alter ego José Raúl Mulino) leads the polls by a wide margin
PANAMA · In Brief · 12 Mar 2024
Today, the newspaper La Prensa published the latest presidential survey, in which José Raúl Mulino leads voter preferences with 26%, followed by a technical tie among candidates Ricardo Lombana (10.8%) of the MOCA party, Martin Torrijos with the Popular Party (10.8%), and Rómulo Roux (10.2%), lea...
Kazakh President in Azerbaijan to hail transport link
RUSSIA / FSU POLITICS · In Brief · 12 Mar 2024
On March 11 President Tokayev was in Baku for the arrival of the first containers to travel from China to Azerbaijan via Kazakhstan. This is via rail and the Caspian Sea, a route of 7,000 km. The journey took 11 days. The plan is for 10 such consignments to travel each month. Tokayev's 2-day visi...
Opposition prepares for 2026 election; recovery gains speed in Q1; BCRP to pause through May-June
PERU · Forecast · 12 Mar 2024
In this report, we summarize our latest forecasts. First, we discuss possible political scenarios. We analyze the recent Cabinet reshuffle, the resignation of Prime Minister Alberto Otárola and the appointment of his replacement Gustavo Adrianzén (our view is that this has changed little). Next, ...
Economics: Revenue shortfalls and accelerating spending again squeeze public finances, with further deterioration foreseeable this year
MEXICO · Report · 12 Mar 2024
Public balances (budgetary, primary and total financial requirements) experienced a significant deterioration in the first month of the year that was in line with the trend of recent months. Although monthly balances tend to be marked by significant volatility, the factors that determined the lat...
Politics: Amid signs the race is tightening, uncertainty as to the direction a Sheinbaum government might take
MEXICO · Report · 12 Mar 2024
Now that the final leg of the 2024 presidential election campaign is underway, much remains up in the air. Polls continue to offer strikingly different views of the direction in which voter preferences are trending, with many showing the race tightening, and overall, tending to dispel any thesis ...
European Parliament will take the EU Commission to court on funds to Hungary
HUNGARY · In Brief · 12 Mar 2024
The forint is going through a difficult period indeed. This morning, it once again went to a new one-year low, reaching EURHUF 396-397 during the day. This time around, the immediate cause appears to be a new decision by the European Parliament's legal committee to sue the European Commission on ...