GlobalSource Partners | Country Insights

Since February 24 over 2.5 million Ukrainians have fled the country. This figure is only going to grow as the Russian Army penetrates deeper into Ukraine. There are other Ukrainians who are displaced within Ukraine.Ukraine has a population of 42 million. Some of them are pro-Russian and will not ...

Economics: Oil spike adds to pressure on peso for 2022 and public finance perspectives

MEXICO · Report · 14 Mar 2022

The considerable rise in the price of oil arising in response to the war in Ukraine and its broader geopolitical ramifications has been the source of intense discussion among analysts and authorities regarding its potential impact on Mexico. It is important to consider the diversity of such effec...

Israeli saving institutions purchased 3.5bn USD in January

ISRAEL · In Brief · 14 Mar 2022

Israeli institutions purchased 3.5bn USD net in January, following purchases of 1.6bn in December. In January, institutions purchased assets abroad of 1.0bn USD and purchased FX via derivatives by an additional 2.5bn. Global equity markets declined sharply in January, forcing Israeli institutions...

Politics: Law enforcement system in crisis, with reversals and new scandals

MEXICO · Report · 14 Mar 2022

The Mexican prosecutorial system as represented by the Federal Attorney General’s Office (FGR) has been unable to implement the promised modernization and, in fact, is mired in new scandals. Despite broad recognition across the political spectrum that the country’s prosecutorial system is in need...

Everyone woke up worried

COLOMBIA · Report · 14 Mar 2022 · 1 response

As of March 14th, we assign a 40% probability to a Petro victory. Petro or the center-right candidate have a similar predicament, namely the support of its base and the support of the undecided, swing voters, not aligned politically. This is a delicate and beautiful balance to be forged either...

Kazakhstan restricts taking currency and gold abroad

CIS POLITICS · In Brief · 14 Mar 2022 · 1 response

On March 14 the president signed a decree limiting people to taking USD 10,000 in cash or gold abroad. This is due to the economic contraction in Russia, which has impacted Kazakhstan. The KZT has fallen 20% in the last 18 days.Kazakh banks no longer give their clients USD due to the paucity of t...

Legislative decisions that are beyond controversial

ECUADOR · In Brief · 14 Mar 2022

Last Thursday, the Assembly voted in favor of granting amnesty to all of those prosecuted for violent acts of public property destruction carried out during the riots of October 2019. Albeit some of the cases could fall within the category of political persecution, there is no doubt according to ...

War keeps the economy as a priority and other weekly topics

BRAZIL POLITICS · Report · 14 Mar 2022

Bolsonaro holds the first ministerial meeting of 2022. It should be the final meeting with the current team, as nine ministers intend to run for elected office in October. Governors can question the law dealing with the ICMS on fuels in the STF. The CCJ of the Senate discusses Tax Reform. In term...

2022 Inflation revised down

VENEZUELA · Report · 14 Mar 2022

Because we see the central bank holding to its interventionist strong-bolivar approach to inflation containment and the government staying in control of its spending, we revise down our annual inflation forecast for 2022 to 143 percent. However, we expect fiscal discipline to start to relax in an...

The fuel issue remains a priority on the agenda, Bolsonaro holds this year’s first ministerial meeting on Thursday, and two new presidential polls will be published this week

BRAZIL POLITICS · Report · 14 Mar 2022

News circulated last week that truck drivers may organize a strike due to the increase in fuel prices. However, we believe this is unlikely to happen, as they recognize the government is putting in a great deal of effort to mitigate the effects of the price increases and that the increase is caus...

Liberal Russians moving to Kyrgyzstan

CIS POLITICS · In Brief · 14 Mar 2022

Since the Ukraine War began in February 2022 tens of thousands of Russians have gone abroad. Many have gone to the former Soviet republic of Kyrgyzstan. Kyrgyzstan is relatively liberal, everyone in the cities can speak Russian and the country has a low cost of living. Russians can stay in the co...

CA surplus and FDI remain robust

ISRAEL · Report · 14 Mar 2022

1. The current account surplus and net FDI together totaled 8.8% GDP in 2021, underlying Israel’s strong fundamentals and supportive of the shekel. 2. The fiscal deficit declined to 2.2% GDP in the last 12 months, supportive of further reduction in bond issuance. 3. We expect a CPI of ...

The 19th day of war: humanitarian convoys and tactical counterattacks

UKRAINE · In Brief · 14 Mar 2022

All of us are involved in humanitarian convoys these days. Some are hosting displaced people, some are helping with humanitarian supplies, some are arranging logistics for civilians locked in the actions area. Hundreds of thousands of people are moving to the West, away from Russian bombs.Reports...

The CA surplus and FDI remain robust

ISRAEL · In Brief · 13 Mar 2022

Highlights:1. The current account surplus and net FDI together totaled 8.8% GDP in 2021, underlying Israel’s strong fundamentals supportive of the shekel.2. The fiscal deficit declined to 2.2% GDP in the last 12 months, supportive of further reduction in bond issuance.3. We expect a CPI of 0.5% m...

Turkmenistan elects new president

CIS POLITICS · In Brief · 13 Mar 2022

On March 13 Turkmenistan is holding an election. Gurbanguly Berdymukhammedov is retiring as president. His son Serdar, 40, is the red hot favorite. Turkmenistan is the most oppressive country in the world after North Korea. The cult of the personality around the president is ludicrous. All electi...