Country Insights

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Politics: New TRIFE Key to Electoral Legitimacy
MEXICO - Report 24 Aug 2016
Although Mexico has made great strides in building a democratic electoral system over the past 40 years, problems remain – for example, extensive use of illegal campaign funding, ineffective regulations on media access, widespread vote buying – that undercut the legitimacy of the elections and pr...

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The MNB is urging the government to loosen fiscal policy further
HUNGARY - In Brief 24 Aug 2016
1. Yesterday, the Monetary Council left the base rate and the Bank's O/N rates unchanged at its regular monthly rate-setting meeting, just as expected. This left the forint roughly unchanged around EURHUF 310, or more accurately, the forint even appreciated a little bit.2. In its communiqué, the ...

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SA Minister of Finance Under Political Pressure Again
SOUTH AFRICA - In Brief 24 Aug 2016 1 response
Yesterday afternoon, the SA organised crime fighting unit, The Hawks, revived their public pressure on Mr Paravin Gordhan, the SA Minister of Finance. Whatever the legal merit or otherwise of the Hawk's case against Minister Gordhan, the real reason for piling political pressures on him has serio...

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“Our boys” are in Syria
TURKEY - In Brief 24 Aug 2016
According to official Turkish sources, a Turkish Joint Expeditionary Task Force and Coalition air craft has initiated the liberation of ISIS-held Syrian town of Jarablus at 04:00 am Wednesday morning. The objective of the mission is to prevent new flows of migration, deliver aid to civilians, cle...

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Increase in TES issuance for 2016
COLOMBIA - In Brief 23 Aug 2016 1 response
A decree was published last Friday, authorizing the Ministry of Finance to increase its TES issuance by COP 8 trillion. The decree mentions that these additional resources are meant to finance outlays for 2016. However this is not the case, as it would imply an increase in the deficit for 2016, w...

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MPC: Easing Continues, As Expected
TURKEY - Report 23 Aug 2016
​The Monetary Policy Committee cut the O/N lending rate by another 25 bps today to 8.5%, from 8.75% earlier, while the O/N borrowing and weekly-repo rates were kept unchanged, at 7.25% and 7.5%, respectively. The width of the corridor dropped further to 125 bps (its lowest level ever), while the ...

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South African Local Government Elections 2016: The ANC Loses Control of Major Metropolitan Centers
SOUTH AFRICA - In Brief 22 Aug 2016
At last much of the post-election tension, deal-making, and coalition speculation is over. Today, the opposition parties, made primarily of Democratic Alliance (DA) and Economic Freedom Fighters (EFF), took control of South Africa's economic and financial capital- the Johannesburg Metropolitan. T...

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Week of August 22
BRAZIL POLITICS - Report 22 Aug 2016
The final phase of the impeachment of removed President Dilma Rousseff will begin on Thursday, August 25, and end next week. Before this, the Senate is expected to vote on the first round of the DRU. Congressman will try to conclude the vote on state debt. As part of his positive agenda, interim ...

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The Labor Market in the Country’s Regions
BRAZIL ECONOMICS - Report 22 Aug 2016
The unemployment rate in Brazil reached 11.1% in the second quarter, with the South remaining with the lowest rate in the county, around 8%, while the Northeast standing with the highest rate, nearly 13% (Graph 1). The rise in unemployment is similar in all five regions of the country – about 4 p...

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Urjit Patel appointed RBI Governor
INDIA - In Brief 20 Aug 2016
Deputy Governor Urjit Patel has been appointed the new Governor of the Reserve Bank of India. He was among the front-runners for the post. He is a macroeconomist by training, has worked in India for many years, has been RBI Deputy Governor Monetary Policy, and was part of the team that worked on ...

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Recent data points to a more robust Israel economy
ISRAEL - In Brief 20 Aug 2016
Economic data released last week suggest fairly strong growth in 1H16 GDP growth reached 2.9% in 1H16 following 2.0% in 2H15. Q216 growth reached 3.7% SAAR and 2.9% y-o-y. Private consumption accelerated to 9.5% SAAR in Q216 on strong durable demand. Industrial exports are up 8.8% in Q2, and inve...

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Inflation is unscathed
VENEZUELA - Report 19 Aug 2016
Over a month ago, the government launched the Mission for Sovereign and Secure Supplies. So far, efforts to improve the distribution of basic consumer products managed to get some goods to the shelves in the government’s establishments but informal markets and price dynamics remain intact.

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IP accelerates, job market tightens
ISRAEL - In Brief 18 Aug 2016
Industrial production in Q2 increased 5.9% (SAAR) following growth of 4.9% in Q1. The high tech sector witnessed expanded 14.7% following 4.3% respectively. The non-high tech sector witnessed contraction of 2.2% in Q2 following growth of 4.2% in Q1. The number of workers in industry increased by ...

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2Q16 GDP grew 7%
PHILIPPINES - In Brief 18 Aug 2016
Government announced today that the economy grew 7% in 2Q16, in line with what we expected. The economy’s growth performance may be traced to the following factors: Investments in a broad range of durable equipment (+43%), particularly road vehicles; Consumption (+7.3%), boosted by election spend...

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One More Reform. But is There Time?
CHILE - Report 17 Aug 2016
President Bachelet's pension reform proposals both fit and break a pattern. As with previous reforms, the government appears to be bending to longstanding popular discontent, this time with the existing individual pension accounts and their administrators, known by their Spanish acronym as "AFPs"...