GlobalSource Partners | Country Insights

Gain insights on the economic and political challenges ahead for Mexico and how the country is likely to navigate them. Visit our calendar page to watch Guillermo Valdés and Mauricio Gonzalez discuss Mexico's weakening macroeconomic conditions, the pressure of high inflation and low growth on the...

President Bolsonaro’s performance in the polls expected to improve, the PT fears Lula’s controversial statements on abortion may cause electoral damage, and the União Brasil announced it will launch a presidential candidacy

BRAZIL POLITICS · Report · 08 Apr 2022

The government still hopes that the improvement in the economic environment can continue and, with that, increase its popularity among the electorate. Minister Paulo Guedes said yesterday that the government can use the excess in tax collection to correct the income tax table for individuals. Aft...

Consumer inflation continues to accelerate, though not in a runaway fashion

HUNGARY · In Brief · 08 Apr 2022

The year-on-year rate of CPI-inflation rose further to 8.5% in March, from 8.3% in February, on a 1% rise of the CPI in March alone.Despite the increase, this may look like a relatively favourable figure, as analysts' median expectation was 8.65% and the MNB predicted something in the 8.5-9% rang...

The key rate cut to 17%

RUSSIA ECONOMICS · In Brief · 08 Apr 2022

The CBR cut its key rate to 17% while referring to slowing w-o-w inflation, and the risk of further deterioration of the economic activity pressure on the financial sector as well. The regulator also hinted that further rate cuts are possible but the decisions will be data-dependent. High key rat...

RBI's Monetary Policy Committee trims growth forecast and raises inflation projection

INDIA · Report · 08 Apr 2022

The first bi-monthly meeting of the RBI's Monetary Policy Committee (MPC) concluded today. In contrast to the previous monetary policy announcement, the focus this time has been on managing inflation and withdrawing the excess liquidity through formal instruments. The RBI acknowledged that the di...

US bans exports to Russian airlines

CIS POLITICS · In Brief · 08 Apr 2022

On April 8 the ban was imposed on Aeroflot, Azur Air and Utair. The US accused the airlines of breaking sanctions. Aeroflot had flown Boeing aircraft which was a violation of a previous sanction. The airlines will not be able to buy American goods for 6 months. They are banned from using US-made ...

Russia: a brief market watch

RUSSIA ECONOMICS · In Brief · 07 Apr 2022

The Russian ruble has bounced back in recent days/weeks as more sanctions were announced and a great number of Western exporters terminated their business with Russia. Demand for imports in the country fell and amid a sort of capital controls combined with increased risk of holding money outside ...

Third way parties have set a timeframe to join forces, the TCU will discuss the privatization of Eletrobras, and the Ministry of Mines and Energy released a new list of appointees to the leadership of Petrobras

BRAZIL POLITICS · Report · 07 Apr 2022

The statement between the third way parties was signed by the presidents of União Brasil, MDB, PSDB and Cidadania. The União Brasil, which still does not have a pre-candidate, should launch a candidacy on April 14. The candidate who will represent the group will be determined on May 18. Today, a ...

US and UK announce new sanctions on Russia

CIS POLITICS · In Brief · 07 Apr 2022

Washington DC announced new sanctions on Alfa Bank and Sberbank and on Putin's daughters. London promised to stop all Russian oil and gas purchases by the end of 2022. The UK has sanctioned Sberbank and Credit Bank of Moscow.The EU is about to ban all imports of Russian coal. The EU wants to phas...

No rate hike and a weaker forint this morning

HUNGARY · In Brief · 07 Apr 2022

In a surprise move - at the very least, we were surprised - the MNB has not raised its sterilisation rate further today, calling the usual weekly deposit tender with an unchanged 6.15% fixed interest rate. This worked as an outright invitation for EURHUF to try itself above the 380 level, followi...

Coalition stability weakens

ISRAEL · In Brief · 06 Apr 2022

The stability of the coalition weakens One member of Benet’s party Edit Salman, announced her resignation from the coalition. This will weaken the narrow majority of the coalition (from 61 members to 60), although the “Arab List” could support the coalition without actually joining the coalition....

Finance Minister Dr. Nigel Clarke auditions for world's best as William and Kate arrive in Jamaica. His stated agenda - "Reform with ambition"

JAMAICA / BAHAMAS · Report · 29 Mar 2022

Jamaica’s budget debate was concluded last week by Finance Minister Dr. Nigel Clarke on Tuesday, March 22, just as Prince William and his wife Kate were arriving in Jamaica as part of their three-nation royal visit of Belize, Jamaica and The Bahamas, all of which still have the Queen as their hea...

Lula and Bolsonaro advance while the others stall and other weekly topics

BRAZIL POLITICS · Report · 28 Mar 2022

This will be a busy week due to the deadline for party affiliations and resignations. Bolsonaro will likely build a new ministerial team. Up to eight governors are expected to resign from their positions to run for another elective office in October. This week's Talking Points: * Eduar...

Commodity Prices, Terms of Trade and the Real Exchange Rate

BRAZIL ECONOMICS · Report · 28 Mar 2022

In 2019, Brazil’s current account deficit was US$65 billion, while in 2021 it reached only US$24.5 billion. Our projections for 2022 indicate there should be a small surplus. The greatest contribution to this result will come from the balance of trade, whose surplus will benefit from the rising i...

Long-term RMB trend remains stable

CHINA · Report · 28 Mar 2022

Economic recovery has been relatively strong, thanks largely to export and fiscal policy support. In January-February, industrial output rose 7.5% y/y, up 3.2 pps from December 2021. Investment was up 12.2% y/y, up 7.3 pps from 2021. Real estate investment increased 3.7%, having stopped its previ...