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Events
Databanks
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Argentina databank Oct 28 -
Brazil Economics databank Sep 15
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Central America databank Oct 29
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Chile databank Oct 29
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China databank Mar 21
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Colombia databank Nov 6
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Dominican Republic databank Oct 21
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Ecuador databank Oct 23
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Gulf Countries databank Oct 31
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Hungary databank Oct 17
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India databank Jun 26
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Mexico databank Oct 21
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Panama databank Jul 17
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Peru databank Nov 4
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Philippines databank Oct 8
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Poland databank Nov 3
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Russia Economics databank Oct 16
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South Africa databank Nov 3
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Turkey databank Oct 27
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Ukraine databank Aug 15
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Venezuela databank Nov 3
NEWS FLASH
UPCOMING WEBINAR - CHILE ELECTION BRIEFING: AFTER THE GENERAL ELECTIONS...
COUNTRY INSIGHTS
The CPMI on the January 8 attacks was installed, the government is working toward preventing the Environment Ministry from losing many of its responsibilities, and the House approved the urgent status of the bill on the demarcation of indigenous lands
BRAZIL POLITICS · Report · 26 May 2023
The Joint Parliamentary Committee of Inquiry (CPMI) on the January 8 attacks was finally installed yesterday. The president of the committee will be Deputy Arthur Maia (União-BA), and the rapporteur will be Senator Elizabeth Gamma (PSD-MA). A number of responsibilities of the Ministry of the Envi...
GULF WEEKLY: Saudi warns oil short sellers, S&P expects a balanced Dubai budget, record demand for Adnoc Logistics IPO
GULF COUNTRIES · Report · 26 May 2023
A skimmable summary overlaid with our analysis and links. Headlines: * The Saudi oil minister warned short sellers as bearish bets on oil reached the highest in over a decade. * Flights resumed between Qatar and Bahrain, and their frequency will increase to at least 6 daily. * $8bn in financ...
Better than expected Q1 GDP does not (yet) override projected stagnation
ARGENTINA · Report · 26 May 2023
The publication of March's economic activity index (EMAE) allows us to calculate a close proxy of the GDP data that will be officially published on June 22. EMAE´s 1.5% y/y growth, taking the 3-month moving average, suggests a significantly better result for Q1 2023 growth than the -0.7% y/y expe...
A unanimous decision to hike interest rates by 50 bps by the SA Reserve Bank as the rand remains weak
SOUTH AFRICA · Report · 25 May 2023
The South African Reserve Bank (SARB) has once again announced that it is hiking the benchmark interest rate, by 50 basis points—the second of this magnitude after it had slowed its rate of increase to 25 bps in January 2023. This was following this week’s conclusion of its Monetary Policy Commit...
Budget deficit widens in April amid amendments and weak tax revenue flow
KAZAKHSTAN · In Brief · 25 May 2023
In 4M23, the deficit of the republican budget reached KZT1.355 trln amid accelerated growth of expenditures. In 1Q23, this deficit accounted for KZT0.830 trln. Once again, the government amended the 2023 republican budget and increased its spending from KZT20.6 trln to KZT21.6 trln. This amount d...
Russia to deploy nukes in Belarus
RUSSIA / FSU POLITICS · In Brief · 25 May 2023
On May 25 Belarus signed an agreement about Russian nuclear weapons being stationed in Belarus. The Russian news agency TASS reported this. Russia shall still control its non-strategic nuclear arms in Belarus. The Russian Defense Minister was in Belarus to sign the agreement with his Belarusian c...
Russia: a brief market watch
RUSSIA ECONOMICS · In Brief · 25 May 2023
After some appreciation at the beginning of May, the ruble returned to the R/$80 area. The uncertainty remains high, and the recent package of sanctions confirmed that pressure on Russia will continue to increase. Many investors believe new restrictions on the financial sector and the “unfriendly...
The Central Bank announces the possibility of adopting measures to revitalize the economy in the near future
DOMINICAN REPUBLIC · In Brief · 25 May 2023
In a conference at the Association of Industries of the Northern Region, the Governor of the Central Bank indicated that it is highly probable that inflation will enter the target range of 4% ± 1% at the end of this same month of May, before what was planned. According to Héctor Valdez Albizu, "t...
Sailing into the unknown
CHILE · Report · 25 May 2023
The Monthly Index of Economic Activity (IMACEC) for March confirms the ongoing decline in consumption, and stagnation in economic activity. National accounts figures for Q1 2023 highlight the weakness of consumption in a context of high inflation, elevated interest rates and weak consumer confide...
Past the peak of the inflation and interest rate cycle
HUNGARY · Report · 24 May 2023
Following a peak in January and roughly unchanged levels in the rest of Q1, CPI-inflation fell materially in April at last. This new pace of downward movement is likely to become a trend in the next two months and to accelerate further in Q3. We still believe that single-digit inflation by Decemb...
Russian PM in China
RUSSIA / FSU POLITICS · In Brief · 24 May 2023
Mikhail Mishustin spoke in Beijing when meeting his Chinese analogue. He said that relations with China are closer than ever and this would help Russia to resist unprecedented economic pressure. China maintains it is neutral over the Ukraine conflict. Mishustin went to a business forum in Shangh...
The House approved Deputy Cajado’s report on the fiscal framework, the vote on the edits to the text will continue today, and the National Forum of Governors takes place in Brasília today
BRAZIL POLITICS · Report · 24 May 2023
The House approved Deputy Cláudio Cajado's (PP-BA) report on the new fiscal framework. The score was 372 votes in favor, 108 against, and only one abstention. In a new text presented to the plenary, Cajado made some changes. Voting on the text continues today. Yesterday, only one edit to the text...
April's revenues disappoint. Martinelli faces a key trial for his political career. A new player: left-leaning economist Maribel Gordon is currently the third independent candidate for the presidency.
PANAMA · Report · 23 May 2023
The NFPS deficit in the first quarter exposed a shortfall in tax collection due to a decline in government revenues. Government expenditures continued to rise, while sales tax revenues fell below expectations, the budget, and last year's performance. The authorities provided a partial explanation...
The House should meet to decide whether to vote on the new fiscal framework, the Senate Economic Affairs Committee will hold a public hearing on the payroll tax exemption bill, and the CPIs should define their work schedules today
BRAZIL POLITICS · Report · 23 May 2023
At noon, the leaders of the House will meet to decide on whether the vote on the fiscal framework will take place today or tomorrow. It will most likely be left for Wednesday, May 24. Also today, the Senate Economic Affairs Committee will hold a public hearing on the bill that deals with payroll ...
The MNB started to reduce the O/N deposit rate with a 100 bps first step today
HUNGARY · In Brief · 23 May 2023
The Monetary Council's decision was to reduce the sterilisation rate, which is the O/N deposit rate, by 100 bps to 17%, after keeping it unchanged at 18% since October 14 last year. The repo rate, which is the ceiling for the MNB's interest rate corridor, was reduced accordingly, by 100 bps to 19...